InterEnergy Group Ltd. (“InterEnergy”), through its shareholding in Energas, announced a strategic partnership with AES Dominicana to form Energia Natural Dominicana (ENADOM) — a company that will commercialize natural gas throughout the Eastern region of the Dominican Republic through a pipeline which is currently in construction.
The new partnership adds to InterEnergy’s investments in the Dominican Republic, which includes generation assets in San Pedro de Macorís, through Compañía de Electricidad de San Pedro de Macorís, S.A. (CESPM), currently in the process of conversion to natural gas, and Consorcio Energético Punta Cana-Macao, S.A. (CEPM), a Dominican utility that generates, transmits, distributes and commercializes energy solutions in the tourist area of Bávaro, Bayahibe, Verón, Punta Cana, Macao, Miches and Uvero Alto.
InterEnergy is confident in the future of the Dominican energy sector and, through this partnership, seeks to provide an efficient and economical fuel solution to the country.
“This is a very important partnership, perhaps one of the most important in the country’s energy sector in recent years, as it brings together the collective effort of companies that have made significant investments over the years, which are now being focused on more clean energy,” said Rolando González Bunster, Chairman & CEO of InterEnergy.
In addition to the 50km pipeline already mentioned, the investment includes the construction of a new LNG storage tank of 120 thousand cubic meters.
“This is a very important partnership, perhaps one of the most important in the country’s energy sector in recent years”— Rolando González Bunster, Chairman & CEO of InterEnergy
“This project reinforces our long-term commitment to bringing reliable and sustainable power to the Dominican market by continuing to deploy significant investments in the country and partnering with global industry leaders such as AES,” he added.
This partnership will invest over US$300 million over the next four years, providing the Eastern region of the Dominican Republic not only with natural gas for electricity generation but also for industrial and domestic use, which today represents 32% of demand and is expected to reach approximately 70% by 2022. “The strategy to maximize the use of Natural Gas for industries and tourism will be strengthened,” stated ENADOM.
Natural gas is the fuel with the lowest environmental impact used in the country since it comes naturally from underground deposits. It is a non-toxic gas which offers excellent efficiency, profitability and versatility in the generation of electricity and other uses, such as industries, shops, hotels and free zones.