President Luis Abinader attended the inauguration of the first phase of a new natural gas-fired power plant on 21 February 2023, an initial US$225 million investment. The SIBA Energy plant, located in Boca Chica in Santo Domingo province, is owned by the SIBA Energy Corporation. The group partners are Empresa Generadora de Electricidad Haina (EGE Haina), SGN Energía and Monte Río Power Corporation, national companies with a long history in the local electricity and energy markets.
A Ege Haina press release explains that the plant in its initial configuration has a capacity to generate 210 MW. It will be further developed as a combined cycle plant, with 280 MW of capacity when additional energy is produced from the recovery of exhaust heat from the turbines.
The power plant in its first stage of open cycle operation consists of 12 natural gas turbines, with alternating capacity to operate with diesel and hydrogen. They are state-of-the-art Titan model units manufactured by Solar Turbines, a subsidiary of the Caterpillar group. The modular, quick-to-install units are ideal for producing efficient energy with a low environmental impact. They operate quietly, without vibration and with gas emission levels that will reach just 11% of the maximum limits allowed by national regulations.
Ege Haina highlights the fast start-up capacity of the turbines, combined with their flexibility to operate in blocks. The company stresses that Siba Energy is positioned to supply the growing demand for electricity and modulating peak demand needs, complementing renewable energy generation and acting as a reserve for emergencies due to failures and scheduled maintenance of other power plants.
The president of SIBA Energy and vice-president of EGE Haina, Luis Mejía Brache, said the power plant will support the Dominican electric system with silent, flexible units with an impressive response capacity.
The project is financed in its initial stage by the Fondo de Inversión Libre Cerrado para el Desarrollo de Infraestructuras Dominicanas I, managed by Sociedad Administradora de Fondos de Inversión Universal, S.A. (AFI Universal). The international financial institution CIFI Asset Management is acting as manager of the financing.
Energy Minister Antonio Almonte also spoke at the inauguration. He stressed the importance of this project for the National Interconnected Electric System, SENI.
SIBA Energy will inject power and energy into the system through long-term contracts with the government-owned distribution companies (EdeNorte, EdeSur, EdeEste).
28 February 2023