President Danilo Medina met with AES CEO Andres Gluski, regional president Manuel Perez Dubuc, investor relations director Scarlett Alvarez Uzcategui and AES Dominicana president Marco de la Rosa while in New York City. President Medina was accompanied by ministers of the Presidency, Foreign Relations and Administration, Gustavo Montalvo, Andres Navarro, and Jose Ramon Peralta, as well as by the executive vice president of the Dominican Public Electricity Corporation, Ruben Jimenez Bichara.
According to the Presidency website, the company says it plans to make the most of the DR’s good investment climate to continue its expansion plans. Yet, news reports speculate that the reported US$600 million in power arrears was also tops on the agenda.
Last year Gluski visited President Medina at the Presidential Palace to announce an investment in their energy platform of over a billion dollars over the next five years. AES facilities generate around 40% of the energy in the Dominican Republic.
In September 2014, the company announced a strategic partnership with the Estrella-Linda Group, which acquired an 8% minority share in AES’s business in the DR for US$96 million. At the time, Gluski stated: “This transaction, valued at US$1.2 billion for AES Dominicana, highlights the value of our Dominican assets.”
“We believe that Estrella-Linda represents a strong local player and will support our planned expansions, such as upgrading our DPP power plant. AES and Estrella-Linda are committed to bringing affordable, sustainable and reliable energy solutions to the Dominican Republic.”
Grupo Estrella and allied companies are major government contractors in the Dominican Republic.
AES Dominican Republic’s business consists of a LNG import terminal, a 319 MW combined-cycle gas-fired plant (Andres), a 236 MW open cycle gas-fired plant with potential expansion of the capacity to 358 MW in combined-cycle mode (DPP), and 50% ownership of a 295 MW coal-fired plant (Itabo).
http://www.listin.com.do/la-republica/2014/9/21/338513/AES-Corporation-presenta-al-presidente-Medina-sus-planes-de-expansion-en-RD