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Environment ministry Mimarena granted the license after analyzing the EIS, CDEEE said in a release.
The project is expected to cost US$1.95bn and includes twin coal-fired power generators, a coal port and a 345kV substation, among other facilities.
The consortium broke ground on the project last December.
Punta Catalina will help alleviate the Dominican Republic's energy crisis, and create 7,500 direct and 20,000 indirect jobs.