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AES Dominicana broke ground on a US$260mn project to convert its Los Mina thermoelectric plant in the Dominican Republic to combined cycle.
Subsidiary Dominican Power Partners (DPP) operates the 210MW complex, which will add 114MW at the end of 2016.
DPP, which selected Spain's Técnicas Reunidas to carry out the work, has tapped IFC to help finance the project, according to information from the lender.
The conversion to natural gas will save the country US$120mn/year, the government said in a statement. Natural gas-fired plants accounted for 26.5% of electricity production in August.
Earlier this week, President Danilo Medina, who participated in the groundbreaking, called on stakeholders to reach a national power sector reform pact which looks to reduce costs among other goals.
BNamericas will host its 11th Southern Cone Energy Summit in Lima, Peru, on November 12-13. Click here to download the agenda.