Bichara: Electric Pact seeks "to shield" plans that are being carried out
He says they cannot stop, because they solve the problems
Edwin Ruiz
SD. Ruben Bichara, the executive Vice President of the Dominican Corporation of State - owned Electricity Enterprises (CD EEE) observed yesterday that with the Electric Pact the government is trying to "armor plate" the projects it is carrying out in the sector. These projects are by their very nature, long term, and will cover more than one presidential term, he said.
He noted that the six month deadline assigned for the development of the negotiations and for the construction of a consensus is sufficient. But it is like this, "if we work together and well programmed" we can do this. After all, "we know what we have to do, and we know what is needed," according to Bichara.
But, he was asked, what happens if the pact is not agreed-upon? The government's chief for the electric sector said energetically that "the (governments) Plan cannot be stopped, because this project is the only thing that will solve the problem." The official refers to the Strategic Plan for the Electricity Sector, 2013 - 2016, which the government began to carry out with the start of the construction of the coal-fired generation plants at Punta Catalina, in Bani.
The project will have a generating capacity, according to the most recent results that were released, of 720 MW. It is expected that the first plant begins to operate in 2017.
Regarding the financing for the amount of US $1.5 billion that is being sought in foreign development banks such as BANDES, of Brazil and SACE, in Italy, he revealed that the boards of directors of these entities have already approved it, and that they are "in the negotiation phase regarding the terms and conditions in order to later program the expenditures," which are forecast to occur between December and January.
Bichara spoke with reporters on Thursday after ending the ceremony of the startup for the construction of the combined cycle generation plants at the Los Mina Electricity Park, which belongs to Dominican Power Partners (DPP). Among those present at the activity were President Danilo Medina, Andres Glusky, the president and CEO of the AES Corporation, and Edwin de los Santos, the president of AES Dominicana, together with ministers and businessmen.
DPP, the owner of Los Mina V and VI, is the first AES investment in the Dominican Republic. With the conversion of these plants to natural gas it is expected that there will be an increase of 114 MW to the installed capacity of the plants, raising it to 324 MW. The project includes a private investment of US $260 million. According to Glusky, the conversion will contribute to the reduction of the electricity subsidy by some US $120 million.
Public and private
In June, the CDEEE signed a contract with Dominican Power Partners (DPP), a company of the AES Dominicana group, for the purchase of energy. The agreement has a term of six years, and is tied into the conversion to a combined cycle of the generating plants of Los Mina V and VI. This Thursday in a formal act, they cut the ribbon on the start of the work for the conversion, which could be interpreted as part of the initiatives which for the private sector are being carried out together with the Plan for the Electric Sector of the government.
He noted that the six month deadline assigned for the development of the negotiations and for the construction of a consensus is sufficient. But it is like this, "if we work together and well programmed" we can do this. After all, "we know what we have to do, and we know what is needed," according to Bichara.
But, he was asked, what happens if the pact is not agreed-upon? The government's chief for the electric sector said energetically that "the (governments) Plan cannot be stopped, because this project is the only thing that will solve the problem." The official refers to the Strategic Plan for the Electricity Sector, 2013 - 2016, which the government began to carry out with the start of the construction of the coal-fired generation plants at Punta Catalina, in Bani.
The project will have a generating capacity, according to the most recent results that were released, of 720 MW. It is expected that the first plant begins to operate in 2017.
Regarding the financing for the amount of US $1.5 billion that is being sought in foreign development banks such as BANDES, of Brazil and SACE, in Italy, he revealed that the boards of directors of these entities have already approved it, and that they are "in the negotiation phase regarding the terms and conditions in order to later program the expenditures," which are forecast to occur between December and January.
Bichara spoke with reporters on Thursday after ending the ceremony of the startup for the construction of the combined cycle generation plants at the Los Mina Electricity Park, which belongs to Dominican Power Partners (DPP). Among those present at the activity were President Danilo Medina, Andres Glusky, the president and CEO of the AES Corporation, and Edwin de los Santos, the president of AES Dominicana, together with ministers and businessmen.
DPP, the owner of Los Mina V and VI, is the first AES investment in the Dominican Republic. With the conversion of these plants to natural gas it is expected that there will be an increase of 114 MW to the installed capacity of the plants, raising it to 324 MW. The project includes a private investment of US $260 million. According to Glusky, the conversion will contribute to the reduction of the electricity subsidy by some US $120 million.
Public and private
In June, the CDEEE signed a contract with Dominican Power Partners (DPP), a company of the AES Dominicana group, for the purchase of energy. The agreement has a term of six years, and is tied into the conversion to a combined cycle of the generating plants of Los Mina V and VI. This Thursday in a formal act, they cut the ribbon on the start of the work for the conversion, which could be interpreted as part of the initiatives which for the private sector are being carried out together with the Plan for the Electric Sector of the government.
Edwin Ruiz
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