POSEIDON
Wind farm in Dominican Republic
The project
In 2021, STOA acquired a minority stake in Poseidón Energía Renovable, S.A., owned by the Dominican developer and investor Grupo Energético 23. Poseidón is the company in charge of the development, financing and active management of Los Guzmancito 100 MW wind farm project in the Dominican Republic.
The first phase of the Project (48MW) has been operational since December 2019. Recently launched, the second phase of works will enable the extension of the wind farm to a total capacity of 100 MW, by October 2022.
What’s at stake
Contributing to the integration of renewable energy into the mix
With STOA’s investment, the project will almost double its capacity, adding a US$128 million Phase II consisting of 13 additional Vestas turbines, leading the project to reach 100 MW of installed capacity. STOA therefore takes part in the financing of an essential infrastructure for the country, which committed to carbon neutrality by 2050.
A project that respects local biodiversity
In the context of the project, STOA and its partner GE23 has initiated a multi-year exceptional study of the fauna of the Dominican Republic, focused on indigenous bats and their ecosystem and implemented together with international and Dominican biodiversity experts and funding partners, which will serve the Country and the wind farms to be built in the future. Phase II will also continue its reforestation program in the area, initiated with the first phase of the Project
Results for 2021
- 253 direct jobs supported at the end of 2021
Overall impact score of the project : 2,0 / 3
« We are thrilled to partner with STOA, who brings deep wind experience and international best practices on environmental and social governance to the Project and our Country. »
Ernesto Armenteros, Partner – Grupo Energético 23
EXPECTED RESULTS
100
MW OF INSTALLED WIND CAPACITY
125000
CO2 TONS AVOIDED PER YEAR [1]
127000
PEOPLE WITH ACCESS TO ELECTRICITY BY 2024
[1] Emissions calculated using the AFD’s carbon balance method, based on total installed capacity and projected estimates over the life of the project.
PORTFOLIO
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Dernière mise à jour/Last update : 23/08/31