Neo Solar secures long-term financing for Dominican Republic project

A subsidiary of Taiwanese solar cell and module maker Neo Solar Power Corp has secured long-term financing of US$38 million for its Monte Plata solar project in the Dominican Republic.

General Energy Solutions Inc obtained 16-year financing from the Netherlands Development Finance Company (FMO) and German Investment and Development Corporation (DEG), Neo Solar said today.

When complete, the 69MW Monte Plata project will be the largest photovoltaic (PV) system in the Central Caribbean, using 270,000 panels supplied by Neo Solar, to supply electricity to more than 50,000 households on the island.

According to the announcement, the 35-MW second phase of the project “keeps moving on”. Upon its completion, NSP along with GES will become the largest single investor in the Dominican Republic.

 

Source: Renewables Now

Written by Renewable Energy Caribbean

The Latest News & Market Analysis on Clean Energy in the Caribbean.

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