DomRep Gets IDB Loan

The Dominican Republic will receive two loans totaling $78.3m from the IDB to support the construction of two wind farms. The projects will add a total of 80.6MW of production capacity. One loan is for $50.7m and will help fund the Parques Eolicos del Caribe project, being developed by a consortium including Gamesa, Grupo Delta Intur, Aquiles Mateo and Miguel Angel Muniz for a total construction cost of $127m. The second loan, for $27.6m, will go to Grupo Eolico Dominicano, a subsidiary of Spain’s Inveravante. That project is expected to cost $68.9m. Both loans were granted for a 15-year term with interest rates subject to market conditions.