June 18 (Renewables Now) - The Dominican Republic's National Energy Commission (CNE) has awarded a concession to a 100-MW photovoltaic (PV) park.
The NWEC Villarpando-Azua solar project is being developed by Natural World Energy Corporation (NWEC). The firm will invest around USD 110 million (EUR 98m) in it, the government said in its press release.
The term of the consession is 25 years with an option for renewal. It establishes that the company will have two years to complete construction works.
Located in the municipality of Las Yayas de Viajama, Azua province, the solar project will help the country save more than USD 30 million per year in oil imports. When fully operational, the PV facility is expected to be able to meet the electricity demand of 195,000 homes.
(USD 1 = EUR 0.89)