Spain's Dominion Energy, Bas unveil 50-MW solar project in Dominican Republic

Spanish renewables developers Dominion Energy SL and its affiliate Bas Projects Corporation SL presented over the weekend their 50-MW solar farm that they have been building for the past year in the Dominican Republic.

Present at the ceremony were Dominican president Luis Abinader, energy and mining minister Antonio Almonte, representatives from Dominion and Bas and other guests from the Dominican power sector, the government said.

The solar project El Soco is still under construction and is being realised with an investment of USD 93 million (EUR 82.4m). Bas Projects Corporation CEO Emilio Martinez told local media the El Soco plant could be connected to the grid in February-March 2022, with the commissioning permit set to arrive in the first half of next year.

The Abinader administration has set the target for the Caribbean nation to consume 25% of its power from renewable energy sources by 2025, energy minister Almonte said in statement. The Dominican Republic has huge potential for wind and solar power development, the minister added.

The event for the El Soco solar project arrives two days after Dominion Energy’s parent, Spanish engineering services company Global Dominion Access SA (BME:DOM), announced its renewables division would carry out a capital hike to bring in a new shareholder. The funds are meant to help Dominion Energy become an independent power producer (IPP) with over 1 GW of renewable energy projects under development in Europe and Latin America.

Dominion Energy's first IPP projects are wind and solar PV initiatives in Mexico and the Dominican Republic, the parent company said.

Dominion Energy holds a 35% interest in Bas, which is included in the IPP plans for the future.

(USD 1.0 = EUR 0.886)

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