Renewable Energy Generation
On 2022, DOMINION completed the commissioning of El Soco photovoltaic solar park in the municipality of Consuelo, Dominican Republic.
The energy deficit and dependence on fossil fuels drove the Dominican Republic to step up its commitment to clean energy. DOMINION took on the task of building the photovoltaic plant in this Caribbean country, with an offer that included everything from the design and construction of the plant to its operation and subsequent maintenance.
From the begining in the last months of 2020, we have been in charge of the development and start-up of the park with a contracted power of 50MW that will inject more than 130 million Kwh into the country''s power network and will avoid the emission of more than 60,000 tons of CO2 per year. For the construction, which has had an investment of 93M USD, a total of 147,870 solar panels were used.
The project helps Dominican Republic to reach its goal until 2025, the year in which they expect 25% of the electricity consumed by the country to come from renewable energies, and has generated more than 500 direct jobs in the region.
This park comes after one of our major projects in the country: the construction of Mata de Palma in 2019, the largest park on the island to that date with a capacity of 65 MW and 200,694 solar panels distributed over an area of 75 hectares.
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Dominican Republic is the Caribbean''s leading economy, with consistent growth over the past decade. It is pursuing an active policy to deploy renewable energies, with the objective to reach 30% penetration of renewable energies in the grid by 2030.
Akuo is present in Dominican Republic since 2017 and holds a strong position in the renewable energy sector with several flagship projects. Amongst them are Pecasa, a 50MW wind project financed with development banks and operated in cyclonic conditions, Matrisol, a 55MW solar project with the first private offtake scheme in the country, or CM Punta Cana, a self-consumption and retractable solar plant with storage capacity. Each of these projects demonstrates our ability to adapt to regional specificities by proposing innovative solutions.
Akuo ambitions to further contribute to the energy transition within Dominican Republic with the development of additional projects, many of which will incorporate storage technologies.
With 22 individuals, our local team is the largest of all our Latam subsidiaries. As always within Akuo, it is mostly a local workforce with around 90% of nationals, several of whom belong to the communities alongside our projects. With experience accumulated locally regarding every stage of our projects since 2017, the team now gathers varied positions including development managers, construction experts, controllers, asset managers, project finance referents and more.
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Matrisol''s solar farm is located in the North coast of the Dominican Republic in a town named Cabrera. With 53 MW, the project has the largest solar power capacity of the Group at its opening.
In accordance with its efforts to initiate major societal transformations, Cervecería Nacional Dominicana has signed a Power Purchase Agreement (PPA) for the purchased electricity of the solar plant. Pursuant to this agreement, Cervecería Nacional Dominicana undertakes to purchase most of the energy produced by the solar park, thus guaranteeing the project''s viability.
This solar energy plant is the first renewable energy production unit to supply the company with power, thus contributing, on its own scale, to the country''s transition to a more sustainable future.
This is the third project developed by the Group in this country, where it is the leading independent renewable energy producer, having previously commissioned the Pecasa wind farm in 2019 and a Solar GEM plant in 2020. The new solar park will be built with the support of GAM Capital and Banco Popular.
The Dominican Republic is committed to transforming its energy mix, increasing the proportion of renewable energy to 25% by 2025, pursuant to Law 5707 on Incentives for the Development of Renewable Energy Sources and their Special Regimes.
The park will revitalize the region''s economy through the creation of 550 direct jobs and more than 2,000 indirect jobs. Moreover, it will maintain more than 200 jobs locally to ensure plant operations.
The project has high industry standards complying with international emission reduction protocols for reducing carbon footprints.
Proactive behavior is a determining factor for a project team, to succeed and meet objectives. Akuo has a multidisciplinary team of professionals, who work as a single disciplined entity, anticipating problems and having initiative to face challenges.
One of the main objectives of the Matrisol project is to integrate the surrounding communities and generating a positive impact on the residents, but also including workers from all around the world which makes the team culturally diverse (Dominicans, Venezuelans, French, Italians, Spanish, Chinese, Arabs, etc.). This also makes us increase our proactivity by adding the best of each one.
Your clean energy journey is unique as you navigate the best path toward achieving ambitious sustainability goals. Together, we''ll develop the new renewable energy solutions you need and elevate your position as a leader of the future.
New renewable energy is your unique contribution to a carbon free grid. We help you develop and scale your renewable energy supply faster with solar, wind and energy storage to maximize the impact of your sustainability and business goals.
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