DR has the largest solar power plant in the Caribbean

President Danilo Medina inaugurated the country’s biggest solar power plant described as the largest renewable energy project in the Dominican Republic. The plant was built at a cost of US$110 million and will eventually generate 67 megawatts, with 30 in this first phase. It will also provide more than 300 direct and 1,000 indirect jobs.

In this first stage alone, the project triples the number of existing solar panels in the country, and once completed, it will increase the current photovoltaic power in the country fivefold.

This General Energy Solutions project in Monte Plata is the largest Taiwanese investment made in the country.

The company says that 270,000 panels are being installed, making it not only the largest solar project to date in the DR but also in the Caribbean region. Once completed it will produce 51,000,000 kWh per year, which represents a reduction in pollution of 70,000 tons of CO2 annually, improving the sustainability of the country’s electricity grid and the economy as a whole.

[March 2016]

Securities Law ruling amendments

President Danilo Medina issued the decree number 119-16 approving amendments to the ruling for the implementation of the Law on Securities Market No. 19-00.

The decree expands the range of instruments and publicly offered securities that can be traded in the Dominican Stock Market. The objective is to promote and channel increased savings in the medium and long term. The amendments are chiefly aimed at adapting the regulatory framework to the offerings under the trust (Ley de Fideicomiso) modality.

[March 2016]