- MPCES has signed a joint development agreement with Soventix Caribbean for solar PV in Dominican Republic
- The duo plan to establish a solar park with a capacity of 50 MW to 100 MW by the end of 2022
- Both will seek jointly seek to commercialize the energy and carbon credits from the facility
Netherlands based renewable energy developer MPC Energy Solutions (MPCES) has entered the Dominican Republic after signing a joint development agreement with Soventix Caribbean that designs, develops and constructs turnkey PV projects.
Together, the 2 companies plan to develop and construct a solar park with up to 50 to 100 MW capacity by the end of 2022 with Soventix Caribbean taking up local development activities. Both the partners will jointly seek to commercialize the energy and carbon credits.
Calling the Dominican Republic as the ‘largest’ existing renewables independent power producer (IPP) market in the Caribbean with about 650 MW of installed wind and solar power capacity, MPCES said it is in the process of building up an operational portfolio as a leading IPP with a highly diversified portfolio and attractive rates of return.
Dominican Republic aims to become carbon neutral by 2050, and in the interim wants to generate 25% of its electricity from renewables to reduce the role of fossil fuels from its electricity supply. Currently, according to the MPCES, the country has about 650 MW of installed solar and wind energy capacity.
In February 2020, Spain’s Elecnor said it will build the ‘largest’ solar PV station in the Latin American nation with 120 MW capacity for local utility EGE Haina (see Spanish EPC Company For 120 MW PV In Dominican Republic).