Blue Elephant Energy takes control of 116-MW Carribean solar project

Image by: Blue Elephant Energy AG (

May 10 (Renewables Now) - German renewables developer Blue Elephant Energy AG (BEE) has acquired a majority stake in the 116-MW Montecristi solar project in the Dominican Republic, its legal adviser Watson Farley & Williams (WFW) said on Thursday.

The vendor was F&S solar concept GmbH, a German solar farm builder who will remain on the project as a partner and stakeholder.

The first 58-MW of the project was brought online in July 2018. Later in October, the Dominican Republic's National Energy Commission (CNE) approved the expansion to 116 MW. A state-owned off-taker has signed a power purchase agreement (PPA) for the output of Montecristi.

Spanning over 200 hectares, Montecristi will be the largest solar farm in the Caribbean once the construction is completed.

A trio of European development banks, Germany’s Deutsche Investitions- und Entwicklungsgesellschaft (DEG), Belgium’s BIO and the Netherlands’ FMO, have provided a project finance loan for the construction of the farm.

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Sladjana has significant experience as a Spain-focused business news reporter and is now diving deeper into the global renewable energy industry. She is the person to seek if you need information about Latin American renewables and the Spanish market.

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