Energy solutions provider InterEnergy Group has expanded its footprint in the Dominican Republic with the recent acquisition of the Matafongo onshore wind farm, located in the southwest of that country, for a consideration of US$52 million.
In addition to the Dominican Republic, InterEnergy also enjoys has a presence in Panama, Jamaica, and Chile.
According to the company, it reached an agreement with Grupo Popular to acquire the wind farm for the consideration price. Moreover, it said the investment demonstrates “a clear and decisive commitment to promote clean energy sources in the Dominican Republic”.
Furthermore, as part of this project, InterEnergy Group also acquired multiple assets, currently in development: a 40MW photovoltaic solar project, and two additional wind farms of 50MW, in the north of the country.
At present, the Matafongo onshore wind farm has an installed capacity of 34MW, expandable to 50MW, and generates approximately 104 GWh every year.
The carbon emission reduction from the project is estimated on an average of 30,000 tons of CO2 every year, according to the energy framework of the Dominican Republic, which comes from the calculation of the total emission of fossil fuels and biofuels.
“As InterEnergy Group, we have a strong commitment towards guaranteeing our clients the availability of 100 per cent renewable energy, contributing to the Sustainable Development Goals (SDGs)… In 2015 the company launched the SER Initiative in Panama where the company provides large clients with guaranteed 100 per cent renewable energy, (wind, solar and hydro),” Rolando González Bunster, president of InterEnergy Group, explained.
It was this commitment to the Dominican Republic that led InterEnergy to build the first wind farm in that country — Quilvio Cabrera and Juancho Los Cocos — nine years ago. In 2015, the group built the largest wind farm in Central America and the Caribbean, called Laudato Si, in Penonomé, Panama, with an installed capacity of 215MW.
InterEnergy plans to continue to increase its investments in the Latin American and Caribbean region by acquiring and developing 860MW of additional renewable generation capacity in Colombia, Panama, the Dominican Republic, Uruguay, Mexico, and Peru.