Akuo, GAM Capital sign concession deal for 53-MW Dominican solar project

The Dominican Republic’s National Energy Commission (CNE) has signed a definitive concession agreement with French power producer Akuo Energy and investment fund manager GAM Capital for the 53-MW Matrisol solar project, it was announced on Tuesday.

The solar plant will be built in Maria Trinidad Sanchez province using financing from Banco Popular Dominicano. It is expected to commence operations in 2023.

Matrisol has a long-term power purchase agreement (PPA) with Cerveceria Nacional Dominicana, a local beer producer owned by Belgium-based brewing company AB InBev (BVMF:ABUD34).

The investor is taking part in the project through its fund GAM Energia.

This is the second renewable energy project in the Dominican Republic to be developed in a partnership between these two companies. They previously worked together on a 50-MW wind farm in the province of Monte Cristi.

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