Minister Joel Santos welcomes the closing of Manzanillo Gas & Power financing

The project will add 840 MW to the system, equivalent to 14% of the country's installed capacity between 2027 and 2028

Santo Domingo.- The Minister of Energy and Mines, Joel Santos, welcomed this Tuesday the closing of the US$1.067 billion financing for the Manzanillo Gas & Power project, considering it a milestone for the strengthening of the National Interconnected Electrical System (SENI) and for the consolidation of the energy security of the Dominican Republic. Santos highlighted that the project will contribute 840 megawatts (MW) to the national electricity system, which is equivalent to around 14% of the country's installed capacity, helping to reinforce the base energy and the operational stability of the grid in a context of sustained growth in demand. The official pointed out that this initiative is part of the Government's strategy to increase installed capacity by 54% between 2025 and 2028. He indicated that, in the last three years, more than 2,000 MW of base energy will have been installed in the system.

"The closing of this financing reflects the confidence of international banks in the country and in the strength of the Dominican regulatory framework, as well as in the potential of our energy infrastructure to sustain long-term economic growth," said the minister, specifying that the project began construction last year.

Santos also highlighted the ability of this management to work hand in hand with the private sector, promoting an investment climate based on clear rules and legal security.

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The Manzanillo Gas & Power project includes the construction of an import, storage, and regasification terminal for liquefied natural gas (LNG), along with two combined cycle plants of 420 MW each, for a total capacity of 840 MW. The minister also highlighted the generation of direct and indirect jobs and the socioeconomic benefits for the Northwest Line, as well as the importance of this type of infrastructure for the country's competitiveness and the attraction of investments. Likewise, he highlighted that the financing was structured by a group of international entities, including Citi, JPMorgan, IDB Invest and CAF, under international technical, environmental and social standards.