Wind power got a start in the DR when the Consorcio Energetico Punta Cana-Macao (CEPM), a privately owned utility, signed financing with the International Finance Corporation (IFC). IFC agreed to provide up to US$10 million and a guarantee of up to US$13 million to support construction of an 8.25-megawatt wind power plant and CEPM’s capital expenditures.<\/p>\n
The wind power project is the first of its kind in the DR. It will provide a cleaner source of electricity and save on fuel costs by displacing part of the utility’s existing diesel generation. CEPM serves the resort areas and surrounding communities in Punta Cana, on the country’s east coast and also owns the leading power company that serves hotels in Bayahibe.<\/p>\n
IFC is the private sector arm of hte World Bank Group. In fiscal year 2005 (July 2004-June 2005), IFC provided US$155 million in financing (including US$55 million in syndications) to the private sector in the Dominican Republic.<\/p>\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
Wind power got a start in the DR when the Consorcio Energetico Punta Cana-Macao (CEPM), a privately owned utility, signed financing with the International Finance Corporation (IFC). IFC agreed to provide up to US$10 million and a guarantee of up to US$13 million to support construction of an 8.25-megawatt wind power plant and CEPM’s capital … <\/p>\n