(SeeNews) - Apr 29, 2014 - German solar project developer Soventix GmbH said today it has acquired the 64-MW Monte Plata solar power project in the Dominican Republic from insolvent German solar group Wirsol AG.
The acquisition is in line with Soventix's internationalisation strategy and adds to projects already acquired in South Africa, Canada and Chile. Soventix signed the sales contract with Wirsol's insolvency administrators at the beginning of the week.
The construction of the facility has been divided in two phases and works on the first 30-MW phase began at the end of 2013. Soventix plans to complete the first phase by the end of 2014 and to finish the second 34-MW phase by 2015.
The solar plant has a secured 20-year power purchase agreement with the local energy supplier, Soventix said. The Monte Plata solar park will be the largest solar power facility on the Caribbean, the company added.