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Proparco has granted a $15 million loan to Akuo Energy for the construction of a 52MW installed capacity wind farm. This loan marks Proparco’s first operation in the energy sector in the Dominican Republic.

Other Development Finance Institutions (DFIs) participated in the project, namely the Dutch FMO and German DEG, as well as World Bank’s private sector subsidiary International Finance Corporation (IFC).

This new wind farm, consisting of 25 turbines, will be located in El Copey, 260 kms north-west of Santo Domingo. It will reduce the country’s large electricity generation deficit, which is responsible for frequent power cuts, by providing a clean and renewable energy. As the country’s energy mix is greatly relying on fossil fuels, this wind farm will significantly cut CO² emissions by 76,500 tons per year.

This park will be built by Akuo Energy, an independent French renewable energy producer with which Proparco has already collaborated to build wind farms in Uruguay and Montenegro.