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LatinNews Daily - 30 July 2020
In brief: New thermoelectric plant inaugurated in the DR
* The Dominican Republic’s President Danilo Medina has inaugurated the state-owned Punta Catalina thermoelectric plant, located in Peravia province. According to a press release by the state-controlled power holding company, Corporación Dominicana de Empresas Electricas Estatales (CDEEE), the plant, which took six years to build, will have the capacity to generate 756 megawatts of electricity, representing a third of national demand. The plant was constructed by a consortium led by Brazilian firm Odebrecht (along with Italy’s Tecnimont and local company Ingeniería Estrella), with an initial investment of US$1.95bn, and additional investment of US$395m. The CDEEE press release expects the plant to generate US$250m in revenue each year for the government, and save around US$450m per year in generation costs. The plant has in fact been fully operational since March, helping several domestic electricity providers during the quarantine introduced to contain the spread of coronavirus (Covid-19).
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