May 9 (Renewables Now) - The Dominican Corporation of State Electric Companies (CDEEE) established a 18-month deadline for eight renewable projects with a combined capacity of 361 MW.
The government decided to put a nail on the deadline to guarantee a timely manner for the start and conclusion of work on the plants and to prevent them from being used as business tools for future deals. In addition to the new schedule, the sale or transfer of the projects is also not allowed until they have been completed, CDEEE said.
When complete, these eight plants should help the country reach a total of 556 MW of clean energy before the end of 2018.
Under the new guidelines, construction works must begin within six months after the contractual award. If the plants do not go online on schedule, a fine of USD 50,000 (EUR 45,886) per month is set for the first six months, increasing to USD 100,000 per month as of the seventh month.
(USD 1 = EUR 0.918)