Akuo expanding Dominican Republic renewable energy footprint
Dominican Republic power regulator SIE has authorized the transfer of ownership in special purpose company Energía Solar del Este Cabreto I.
Under the proposed transaction, French group Urbasolar will cede all shares to fellow firm Akuo.
Energía Solar del Este Cabreto I holds a 30-year concession signed in 2021 to develop the 50MW Parque Energy Solar del Este Cabreto I project in Santo Domingo province.
A power purchase agreement was inked with power distributor EdeEste the following year.
According to the watchdog, the transaction would have “no impact on the concentration of the electricity industry that significantly alters the levels of competition in the wholesale electricity market.”
The regulator also highlighted Paris-based Akuo’s industry experience and solid financials.
A reason for the transfer, which Urbasolar requested in March, was not disclosed.
In the Dominican Republic, Akuo operates the 50MW Pecasa wind farm and the 50MW María Trinidad Sánchez solar park.
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News in: Electric Power (Dominican Republic)
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