MEM reveals renewable energy sector receives investments for more than 1,100 million dollars

This MEM release was published using machine translation.

The Vice Minister of Savings and Energy Efficiency, Alfonso Rodríguez, affirmed that the current management has managed to triple the amount of installed renewable energies found in August 2020, thus making the electricity sector represent an investment of more than 1.1 billion dollars in two years and a half of government.

Giving the opening remarks in the second edition of Mercado Magazine, which has the title: Advancing towards an Energy Transition in the DR, Vice Minister Rodríguez, representing the Minister of Energy and Mines (MEM), Antonio Almonte, said that the In two and a half years, the Dominican government has managed to have the most diversified energy matrix in the Caribbean area, through the promotion of renewables.

He indicated that the Dominican Republic is the country with the largest amount of renewable energy installed in the area, and that there are definitive concessions for 16 new renewable energy projects, of which 8 will be inaugurated this year, and that due to the speed with which These projects are being installed, they will exceed the goal of 25 percent renewable energy before the year 2025.

“This country is in a privileged position to take advantage of the benefits of the energy transition. Our country has a strategic geographical location and abundant solar and wind natural resources, which is why we are sure that the strategy of continuing to integrate green energy will not only allow us to reduce our dependence on fossil fuels, but will also contribute to mitigating change. climate change and to preserve our natural environment for future generations”, he highlighted.

The vice minister highlighted that the MEM is carrying out the necessary tasks to generate public policies that establish a legal framework regarding renewables that is clearer, safer and more sustainable, which has already allowed this nation to be placed as the fifth Latin American country. attractive for investing in this type of energy.

“Since we arrived, we began to process electrical works concessions in a timely manner, dismantling all that specter of the need for a single window, and demonstrating that when corruption is eliminated and efficiency is implemented in public institutions, the definitive concessions are issued in less than 12 months, processes that lasted years”, emphasized engineer Rodríguez.

This event brings together actors from the electricity sector, public and private, in order to discuss strategies, challenges and solutions to improve the electricity system and achieve the energy transition by promoting clean energy.