InterEnergy secures Caribbean project pipeline funds

BNamericas in August reported that InterEnergy Holdings (IEH) had submitted a financing request to IFC to fund its development pipeline in the Dominican Republic and the region. Six months later, the lender announced it and the IFC African, Latin American and Caribbean Fund each will provide US$50mn to the energy group. The financing will help IEH diversify the Dominican Republic's energy matrix by increasing LNG import capacity and developing renewables such as wind and solar, IFC said in a statement. The company also plans to expand into other regional markets including Haiti. IEH owns and operates power generation and distribution assets in the region with controlling stakes in Dominican Republic companies Consorcio Energético Punta Cana Macao and Compañía de Electricidad de San Pedro de Macorís. The group also holds an indirect interest in Haina Investment, the private sector shareholder of Empresa Generadora de Electricidad Haina. The company's asset portfolio represents over 1.1GW installed capacity in the Dominican Republic, with another 215MW under construction.