During his address as keynote speaker at the American Chamber of Commerce monthly luncheon, Energy and Mines Minister Joel Santos Echavarría presented a strategic overview of the country’s energy, mining, and hydrocarbon sectors, highlighting these as drivers of sustainable development.
Among his key points, he said that electrical transmission infrastructure will be upgraded with US$450 million in planned investments. He also mentioned that the government is investing US$200 million annually in distribution networks that seek to reduce energy losses, improve service quality, and universalize electricity access. An estimated 64,000 households are currently connected to the power grid.
He spoke proudly of the country’s expanding and diversifying energy matrix. He said by 2028, there will be a 54% increase in installed thermal capacity supplying the National Interconnected Electrical System (SENI). Over 2,100 MW of new thermal power plants are under development for 2025-2028. Moreso, there are 20 renewable energy projects under construction, that will add 1,006 MW to the grid.
Santos spoke of the importance of diversification of the matrix. He said there has been a marked shift from heavy reliance on oil (88% in 2000) to a more diversified matrix by 2025 that incorporates significant amounts of natural gas, solar, wind, and hydroelectric power. He did, nevertheless, announce a second round of oil bidding, including offshore blocks, scheduled for November 2026.
When speaking of mining, he said that the sector exports had reached US$1.71 billion in 2024, generating RD$18 billion in tax revenue.
Santos spoke of the exploration projects for rare earth elements underway in Pedernales and the promotion of responsible mining practices for larimar, the Dominican Republic’s national stone.
The minister also congratulated Francesca Rainieri on becoming the first woman to lead AmchamDR in its over 100-year history, recognizing this as a symbol of institutional progress and female leadership in business.
Santos concluded his remarks by emphasizing the importance of maintaining optimism amidst challenges, stating that hope and enthusiasm are ingrained in the Dominican DNA and will continue to drive the country’s future.
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American Chamber of Commerce
28 April 2025