Siba Energy begins the construction of the combined cycle

This EGE Haina release was published using machine translation.

In an event led by the President of the Republic, Luis Abinader, the start of the construction and development of the SIBA Energy combined cycle, a natural gas thermoelectric plant, located in the municipality of Boca Chica, Santo Domingo province, was formalized.

With this second phase, SIBA will increase its net generation capacity from 190 to around 260 megawatts, as a result of the production of additional energy derived from the recovery of heat escaping from its turbines, without requiring additional fuel, thus significantly improving its efficiency.

The total investment in the development of this plant in its two phases exceeds 430 million dollars, which demonstrates the confidence of the SIBA Energy consortium in the economic stability and development of the Dominican Republic.

Luis Mejía Brache, president of the board of SIBA Energy, expressed that “SIBA's rapid start-up capacity combined with its flexibility to operate in blocks, allows it to contribute to the supply of the growing demand for electricity in the Dominican Republic, while at the same time "It complements the generation of renewable energies and provides power and reserve energy in the event of failures and scheduled maintenance of other plants."

Likewise, the executive indicated that the SIBA combined cycle phase will come into operation in the first half of 2025, and during its execution it will be generating around 500 direct jobs and 1,200 indirect jobs.

Mejía Brache highlighted that the development of this plant “is the product of the Government's vision for the development of the electrical sector of the Dominican Republic; of the trust and commitment of shareholders; the support of government and municipal bodies; as well as the financiers who have made available the necessary resources to make this plant a reality that provides flexible, reliable and sustainable energy to the Dominican nation.”

SIBA Energy will inject power and energy into the system through long-term contracts with the distribution companies (EDENORTE, EDESUR, EDEESTE) as a result of an International Public Bidding process, implemented by the Dominican Government as part of the strategy to address growth in the energy demand of the country.

The plant is owned by the SIBA Energy Corporation consortium, made up of Empresa Generadora de Electricidad Haina (EGE Haina), SGN Energía and Monte Río Power Corporation, national companies with a long history in the electricity and energy markets.

The president gave the first word to formally begin the construction of the combined cycle accompanied by senior officials and representatives of the SIBA Energy consortium.