Germany to loan US $62m for solar project in Dominican Republic

The German development finance institution DEG, has arranged for a USD $62m long term loan for 116 MW solar plant, Montecristi, in the Dominican Republic – the biggest solar farm in the Caribbean.

 Montecristi, whose first phase of 58 MW has recently been finalized, is due to be completed in the summer of 2019, and is expected to provide electricity to approximately 100, 000 homes. The electricity produced will be supplied to the state grid under a 20 year PPA. The German company F&S Solar is also involved in the project as both a developer and investor.