Puerto Plata shines in cruises with the largest ship that touches the DR

Another triumph for Puerto Plata in the cruise business. According to Jean Rodriguez, executive director of the Dominican Port Authority (Apordom), this time its new Taino Bay terminal will make history by receiving on Monday the largest cruise ship that arrives in the Dominican territory. The Apordom’s owner claims that the ship, whose company is unknown, cost close to $1.55 billion and arrived in the Dominican Republic “because as a Cruise Hub country we generate trust in the industry internationally. For this reason, this port terminal guarantees the growth and dynamism of the economy of the entire north and of the country.”

The oasis-type cruise ship, which has a length of 360 meters and an elevation of 72 meters above the sea, as well as a sizable open area of tropical vegetation, terraces, and shops, has the capacity to carry more than nine thousand people, including passengers and crew. According to the note, “The Dominican Republic’s tourism authorities view this cruise port as a crucial component of the initiatives for the relaunch of Puerto Plata as one of the country’s important destinations, and they project that in the next two years there will be more terminals that can receive vessels of this type.”

The Taino Bay terminal offers tour sales services for the city’s tourist attractions, leisure facilities, dining establishments, retail stores, and other services. In addition, there are warehouses, service areas in each area, and locations for waste disposal.

Airports Department inaugurates heliport in Barahona

Barahona. – The Airports Department (DA) inaugurated this Friday and left in operation the Barahona Heliport, in an act headed by the President of the Republic, Luis Abinader, in which it was announced to the country the implementation of the National Network of Heliports project.

“This ambitious project consists of building or remodeling heliports in regional and specialized hospitals, as well as in road networks and the main centers of interest nationwide, to attend emergency situations, rescue, and support tourism,” said Victor Pichardo, director of the DA, in his speech.

Pichardo pointed out that the National Heliport Network represents one of the institution’s main goals, with a view to supporting the expansion of tourism and commercial and emergency operations carried out by the government throughout the country, especially in the southern region.

He said that, in the case of the Barahona Heliport, named Luis J. Féliz (Neny) in honor of one of the DA’s collaborators born in the area, who died along with five others in the accident of October 2020, it would provide a point of aerial interconnection that will serve as a reference for the community itself, and for the development project that the State is carrying out in the Enriquillo region.

This heliport, whose cost was around 26 million pesos, is located on the city’s seawall, considered a strategic, attractive, and tourist position. It also has an aircraft parking position, which will allow simultaneous operations.

The structure, built in a space of 5,400 square meters, has a 324m2 Helipad equipped with an aeronautical lighting system that can be activated by radio frequency from the helicopters, allowing safe night operations.

It also has a terminal building with facilities, equipment such as a power plant, a sewage treatment system, a parking lot with a capacity for 10 vehicles, including a charging station for electric vehicles, and an intelligent irrigation system, among others.

In his speech, Mayor Mictor Fernández highlighted Abinader’s interest in the actions he has been developing in this province since the first day of his government mandate. Also present at the ceremony were the ministers Joel Santos, of the Presidency; José Ignacio Paliza, Administrative of the Presidency; Deligne Ascención, of Public Works, and the director of the Civil Aviation Board (JAC) and the provincial governor Dionne Maribel González.

Also present were Major General Carlos Febrillet, Commander General of the Dominican Air Force; Vice Admiral Francisco Sosa, Commander General of the Navy; and Venancio Alcántara, Director General of Migration, among others.

Tourism will remodel San Pedro de Macorís boardwalk with 260 million pesos

The San Pedro de Macoris boardwalk reconstruction project, which will cost more than 260 million pesos, received a symbolic start this Sunday from Minister of Tourism David Collado. According to a statement from the ministry, the coastal reconstruction project on the 1.8-kilometer San Pedro de Macoris boardwalk includes the construction of a linear park with a 60,000 square meter total intervention area.

Along the boardwalk, the main island, and the waterfront, landscaping work will be done. Recreational areas like squares, playgrounds, an outdoor gym, and a volleyball court will be added to this. Collado emphasized the significance of the project as a tourist destination and the advantages it will bring to nearby small and medium-sized businesses.

“We must turn our backs on the sea if we want to live. The official said, “This intervention will represent a before and after in San Pedro de Macoris.” Nine double sales modules, complete with warehouses and equipment, are part of the project.

La Isabela airport to Pedernales domestic flights will cost $50 USD

As part of the initiatives for the development of Pedernales as a new tourist destination, the General Directorate of Public-Private Partnerships (Dgapp), the Pro-Pedernales Trust, and the Civil Aviation Board (JAC) announced on Tuesday the beginning of domestic flights from the La Isabela Dr. Joaquin Balaguer airport (Santo Domingo North) to the Cabo Rojo aerodrome, near Pedernales. 

Sigmund Freund, the director of the DGAPP, announced at the opening ceremony held at the El Higüero airport that the airline Air Century, in partnership with the business REP-AIR, will begin operating the new route after winning the contract through a bid process conducted in accordance with the Pro-Pedernales Trust’s instructions. Beginning on November 15, single trips with a starting price of $50 one way and a duration of 35 minutes will be promoted. The inaugural flight will take place on November 1. “There will no longer be a six-hour drive to Pedernales,” Freund said.

The official anticipated that these domestic flights to Cabo Rojo will boost domestic tourism and draw investment to Pedernales, which is getting ready for Dominicans and visitors from other countries to enjoy the province’s natural wonders.

Guarocuya de Barahona hotel will house Infotep’s tourism academy

The old Guarocuya hotel in Barahona, where a hotel and tourism school will run in order to train the technicians that Pedernales will need for its tourism development, will be under the management of the National Institute for Professional Technical Training (Infotep). During his weekend visit to Barahona, President Luis Abinader will hand over the hotel to the Infotep authorities and launch several other projects.

The information was provided by Rafael Santos Bada, executive director of the training facility, who explained that the location will soon be transformed into a modern school that will be a part of a tourist route being established from Santo Domingo to Pedernales as part of the development of this tourist pole. The hotel will continue to run concurrently with the school, and Infotep will be in charge of the classroom.

The official stated that the Guarocuya hotel’s amenities have been destroyed and that a sizable investment—the precise sum of which he omitted—will be needed to restore them. Since the hotel is a historical landmark and will undergo renovations, Santos Badia emphasized that the investment “would be much less” than what it means to the community as a whole.

Authorities monitor Caribbean Sea system that could become a tropical depression

Authorities from the National Hurricane Center of the United States and the National Meteorology Office (Onamet) are keeping an eye on a sizable area of low pressure over the southeast Caribbean Sea, which has a chance of developing into a tropical depression this weekend or early next week. The National Hurricane Center reports in its newsletter this Friday that “a broad area of low pressure over the southeastern Caribbean Sea is producing a large area of disorganized showers and thunderstorms extending west-northwestward from the Windward Islands for several hundred miles.”

As the disturbance moves slowly westward or toward the north, it is predicted that the environment will be favorable for gradual development over the next few days, and a tropical depression is likely to form this weekend or at the start of next week over the central Caribbean Sea in the west-northwest. It suggests that through this weekend, heavy rain is possible in some areas of the Lesser Antilles, the Virgin Islands, and Puerto Rico regardless of development.

“Chance of formation in 48 hours… low… 20% and probability of formation in 5 days… high… 70%,” according to the National Hurricane Center. “The low pressure area is expected to form over the eastern Caribbean Sea this weekend, possibly related to the southern part of an existing low pressure trough over the area,” the Onamet adds in its bulletin this Friday.

Dominican Republic has excellent loan ratings with the IDB

The Inter-American Development Bank (IDB), which is the nation’s main source of multilateral financing, is at ease thanks to the Dominican Republic’s sound debt management and high and steady economic growth. IDB representatives Katharina Falkner Olmedo and Gilles Damais took part in the special interview of El Caribe and CDN and discussed the nation’s record of economic growth as well as the outlook for the upcoming year to highlight the positive aspects of the state. 

Falkner Olmedo responded to a question about the country’s level of debt, that the sustainability of the debt is not a nominal issue but rather a relative numerical one and that they are comforted by the fact that the country has grown by 12% last year, 5.5% thus far this year, and is expected to grow by a factor of two more than the region. The IDB would not lend to the country if the government had not been able to maintain a moderate growth rate in its public debt, which continues to be at completely acceptable levels, according to the chief of operations.

Furthermore, Damais emphasized that the international rating agencies did not downgrade the nation’s classification, indicating that they believe the macroeconomic management, including debt management, is excellent. Maintaining a manageable level of debt is crucial, in our opinion, and choosing the projects to invest in based on debt is crucial. He said, “There is no reason not to continue lending money if there are profitable projects and if the level of indebtedness is reasonable because what is invested now will generate benefits for the population that will allow you to repay the debt.”

DR’s economy is driven by tourism, according to Bank of America

The multinational investment bank, Bank of America, highlighted that the Dominican economy has maintained a favorable performance, mainly due to the dynamism of tourism. The financial entity asserts that the dynamism of tourism, which is expected to bring in more than 7 million non-resident visitors in 2022, has helped the DR’s economy maintain strong growth while offsetting the negative effects of rising global raw material prices. In that regard, they suggest that even in the event of a potential recession in the United States during the following year (2023), the Dominican economy would continue to grow among the fastest in the region.

They clarify that due to the strength of its macroeconomic fundamentals as well as its political and social stability, international analysts and investors continue to view the Dominican Republic as a desirable location for investment. The aforementioned details were provided as part of the recent annual meetings of the World Bank and the International Monetary Fund in Washington.

The financial institution notes that the projections for the world economy continue to deteriorate, associated with lower growth and rising geopolitical tensions, in its report on the prospects for emerging economies, prepared after holding approximately one hundred meetings with the technical teams of the different countries.

In a similar vein, investors and the Bank of America team praised the economic policies that have been put in place and helped to control inflation while maintaining potential growth during their meeting with the Central Bank delegation.

Zemi Hotels, the newest Miches tourist destination created by Frank Elias Rainieri

The Puntacana Group’s CEO, Frank Elias Rainieri, unveiled his upcoming project in Miches, which he has dubbed Zemi Hotels, and has already generated a lot of excitement. The businessman provided information via his official Twitter account, which he published alongside the images gathered in this digital archive.

According to Elias Rainieri, the hotel will have 500 rooms, entail an investment of about $150 million, and be open for business in November 2023. The entrepreneur is committed to creating a new brand and a lodging facility in Miches because he wants to provide an alluring lodging option in the aforementioned location. Since they won’t be identical to any of the business-hotel group’s existing projects, the hotel’s name and amenities are entirely unique. Elias Rainieri claimed at the time that Miches is the coastal region that will enable the nation to reach 60–70,000 hotel rooms.

“We were natural Miches advocates from the start.” We always support everything because of this. There is only one coast between Miches and Juanillo, and we need to develop it because it is the only one that will support the expansion of the East sector, he continued.

More tourists! Prediction for the best winter season in history

Punta Cana – The president of the Association of Hotels of the East, Ernesto Veloz, predicted that the coming winter season would be the best in the history of the Dominican tourism industry. He specified that publicity work has been done to attract the most significant number of tourists and that the hotel plant is in excellent condition, while the airport of Punta Cana has renovated many parts and is finalizing a terminal.

“We are totally ready for everything that may come and we have done important international work” through visits to different fairs, he said.

Reservations indicate that the winter season will be one of the best for hotels in the East, he said. He pointed out that the hotels that were affected by Hurricane Fiona will start operating next month.

Amber Cove and Taino Bay ports, booming with 20 cruise ships this month

This October 2022, 24 tourist cruises will arrive in the province of Puerto Plata through the Amber Cove and Taíno Bay terminals.

According to the official calendar of the Ministry of Tourism (Mitur), 14 of these boats are scheduled to dock in the port of Amber Cove (Maimón) and ten by Taíno Bay.

The cruise ships Scarlet Lady, Norwegian Sky, Celebrity Infinity, MSC Seashore, and Allure of the Seas will arrive at the Taino Bay terminal, which will visit Puerto Plata for the first time following Monday, October 31.

While the Amber Cove port, located in the bay of Maimón, will receive Carnival Mardi Gras, Carnival Legend, Carnival Spirit, Carnival Freedom, and Norwegian Prima, which arrived for the first time in this Atlantic city last Tuesday, 18.

The authorities of the area emphasize that the thousands of cruise passengers who arrive in Puerto Plata boost the economic activities of this destination. These tourists spend an average of $80 during their visits to small and medium-sized local businesses, according to AlMomento.

Travelers leave in the morning and return to the boats in the evening after visiting the many attractions of beaches, rivers, and historical and cultural places, in addition to receiving the hospitality of Puerto Plata.

Colombian Ultra Air plans to arrive in the DR the following year

The Dominican Republic is the target market for the Colombian low-cost airline Ultra Air’s global expansion because it experiences high demand from visitors to that South American nation. In an interview with REPORTUR.co, William Shaw, the founder and CEO of Ultra Air, said, “After a year of local operation, we could start operating globally. In this way, we are assessing the markets to determine the best foreign channels for our ultra-low-cost strategy. We anticipate beginning operations in the first part of 2019 and are considering opportunities to expand to countries such as Venezuela, Ecuador, the Dominican Republic, the United States, and Mexico.

With its arrival in the Dominican Republic, Ultra Air will increase competition among Colombian airlines that have also identified the DR as a key market for growth, including Wingo, Avianca, and others. This is in addition to Arajet’s recent offensive between the two markets.

William Shaw stated in a statement on airline news that “This month we started operating new routes from Medellin to San Andrés, Barranquilla, and Monteria, with which we continue to enhance our promise to connect the country. Our Medellin-Cucuta route will be launched in December, leaving us with 17 routes and 10 national destinations in 2022. Similar to that, we are making adjustments to improve customer service at all times and make it friendlier for customers to shop on our website. We proceed to expand.

United States and open skies agreement would soon be signed

Following months of discussions, President Luis Abinader stated today that “in the future weeks we may already think about signing the agreement” of open skies with the United States. ” This arrangement is crucial because it will bring higher quality and more competitiveness to a sector that desperately needs both “the official added. The government is providing incentives to encourage the establishment of new businesses, which, he continued, “would also imply lowering the prices of (air) tickets to the United States.”

A prospective recession in Europe and the United States could have a variety of consequences on Dominican tourism, which President Abinader also examined yesterday. The president is aware that it would be important to research the percentage of these economies that are impacted and investigate the nature of the crises those economies go through. He pointed out, for instance, that full employment exists despite the American economy’s problems. Accordingly, he explained, “if there is full employment, it suggests that there is a demand that will still be maintained, and the estimates that we have through March are extremely strong.”

The situation, in the president’s opinion, “may influence another time.” However, the forecasts we have up to March are fairly confident. Abinader stated that the administration is still extremely attentive and will take more publicity measures to counteract any economic decline.

Dominican cuisine: supporting and promoting the travel and tourism sector

Counting culinary travelers is almost impossible, after all, everyone eats. However, food is a point of differentiation for many destinations and, in the case of the Dominican Republic, it influences the reasons why tourists arrive in the Caribbean country. “There are three things for which travelers go to a destination: a good climate, a good beach and delicious food”, as summarized by the chef of the Barceló Bávaro Grand Resort and Occidental Caribe, Hilario Martínez, during the opening ceremony of the Culinary Week 2022, an event that seeks to publicize the hotel’s gastronomic offer.

The World Food Travel Association is more specific. A survey found that 59% of tourists believe that food and drinks are “important” when traveling. During the opening of the seventh edition of the culinary event, the commercial director of the complex, Zarina Montalvo, said: “we try to bring diners a small sample of the diversity of flavors, textures and smells that gastronomy can offer”. “Gastronomy is much more than food. It reflects the culture, heritage, traditions and sense of community of different peoples. Tourists seem to be aware of this.” Chef Martínez indicated that travelers from any country want to know what the local gastronomy is like. “The first thing they ask is what are your typical dishes?” He maintained.

“It’s a requirement that we see daily,” he continued. That is why both during the event that will culminate next Sunday, October 23 with a menu of local dishes, and in his restaurant, he offers “everything”. “We make our moro, goat, mofongo, mangú in a cauldron, everything local. Also the stewed chicken and sancocho… everything that is our food is presented there”, he explained. Chef Nelson Minaya, who will be part of the last day of Culinary Week 2022, added that customers or tourists communicate with each other. “They come with an expectation”, or failing that, they ask “what is the local food here?”, “what do you recommend?”.

Montalvo, for his part, said that holding this type of event allows the hotel chain to diversify its offer and contributes to enriching the diversity of options available in the market.

Given the growth rate in the DR, Royalton sets its sights on new properties

The hotel chain Royalton has its sights set on brand-new properties in the Dominican Republic as a result. We are already considering projects for the South, the North, and a little farther to the East of the nation. The chain is looking at additional properties because, as he continued, “growth will continue at 100%, more or less, in 2024.” The decision to expand into new locations and target new markets stems from the fact that Blue Diamond Resorts’ hotels (Royalton) in the nation stand out for drawing tourists from the Dominican Republic from various markets, consumers of a product beyond sun and beaches, who find lodging in any of its five properties—two family-friendly and three adults-only—offers with unique qualities. Fromenta stated that the Royalton Splash Punta Cana is a hotel geared toward families and that its guests tend to be European and local. The North American and Canadian markets, “although also the European one,” favor the Royalton Punta Cana.

He said that among the hotels we have in Punta Cana, the Hideaway is one that “purely Americans” prefer. It is also an adults-only establishment. According to him, more than half of the visitors to the Royalton Bávaro are from North America, the United States, and Europe. The Royalton Chic, an adults-only hotel in Uvero Alto that continues to cater to the tastes of Americans and Canadians, is the last example. As a Canadian hotel chain, our main markets are Canada and the United States, he continued. “With this, you can see the difference in markets that we have in each hotel.

The manager added that even though they continue to focus on certain markets, they are taking the necessary steps to increase visitors to their properties there, which have a combined total of more than 1,100 rooms and cater to both the local and Latin American markets. “The neighborhood market is very significant to us. Since we are not that strong and the pandemic demonstrated this to us, we want to draw in more business from the Latin American market. To that end, we are working hard to implement marketing and development initiatives”.

More than 500 runners and walkers in 7th Sosua Marathon

SOSÚA, PUERTO PLATA.- After three years of absence due to the pandemic, the Sosúa Sustainable Development Association (ADSS) held the seventh version of the long-awaited family event on Sunday, October 16. Under the motto “Walk and Run for a better Sosúa”, the event took place in the modalities of 1K for children, and 5K and 10K for runners and adult walkers.

More than 500 runners and walkers participated in eleven categories, from children to adults over 60, which fulfilled the expectations of integrating the families of the community into a sports life, as part of the effort to reposition Sosúa as a family tourist destination. The activity was carried out in the El Batey sector, within the city of Sosúa.

At the end of the race, the prizes established in the different categories were awarded, as well as participation medals to all participants. The athletes José Miguel Guzmán Mendoza and Viageisy Jiménez Lorenzo won the first places in the Open categories, male and female respectively, of the Sosúa 10K ADSS 2022. The first three places in these categories received cash prizes and trophies.

Like the six previous versions, the Seventh Sosúa 10K ADSS was organized by the Sosúa Sustainable Development Association (ADSS). The Organizing Committee was headed by David Ferreiras Jiménez and Ricardo Strauss, Technical Directors of the event. Directors Lolin de Escaño, Jennifer Kirkman, Andrés Pastoriza, Luis Perdomo, Anyelis De la Cruz, Juan Perdomo, and Mario García also participated.

The United Kingdom increases the financial facilities for the Dominican Republic to 3 billion pounds

London, United Kingdom
The Minister of State for Foreign Affairs for the Americas of the United Kingdom, Hon Jesse Norman, informed that the UK increased to 3 billion pounds sterling the availability of funds through the United Kingdom Export Finance (UKEF) so that the Dominican Republic can access financial facilities that will allow it to invest in development and infrastructure projects.

Within the framework of the IX Dominican Week in the United Kingdom, the British official received a Dominican delegation headed by the Dominican ambassador to Great Britain, Elnio Durán, and the president of the British Chamber of Commerce, Amauris Vásquez, where it was explained how these funds could reach 4.5 billion pounds and that they are already available for the Government to apply for them and invest them in priority areas such as aqueducts and drinking water, energy, health, land logistics, and security.

In the meeting, which was also attended by the director of Prodominicana, Biviana Riveiro, as well as the businessmen Felipe Vicini, Pablo Portes, Leonel Melo, and Manuel Jiménez, the initiatives to be implemented to increase exports from the Dominican Republic to the United Kingdom were agreed, especially in the agricultural sector, especially avocado and bananas, as well as specialized technical services such as free zones of technology and medical services.

On the British side, in addition to the Minister of State, the UK Ambassador to the Dominican Republic, His Excellency Mockbul Ali, participated. Both delegations agreed to continue working together to expand bilateral collaboration in education, migration, tax efficiency, and technology exchange so that the Dominican Republic can accelerate the transition to an orange economy focused on creativity and new technologies.

This meeting was the most important meeting between the British and Dominican governments together with entrepreneurs, which took place within the framework of the Dominican Week in the United Kingdom, which had not been held since 2019 as a result of the pandemic, and which allows resuming the most relevant issues of the commercial and collaboration agenda of both countries.

The ninth edition of Dominican Week in the UK is possible thanks to the collaboration of critical Dominican institutions such as the Ministry of Industry, Commerce and MSMEs, ProDominicana, the Directorate General of Cinema, the Directorate General of Customs, and the sponsorship of INICIA, Banco Popular Dominicano, Banco del Reservas, Grupo Punta Cana, Pernod Ricard Dominicana, Labya, Brugal, Kah Kow, Hispania, TIMM, United Petroleum, Gulf Oil Dominicana, Design District Punta Cana, among others.

Foreign film productions have contributed nearly US$400 million to Dominican economy since 2021

President Abinader visited this Saturday the set of the movie Road House where he shared with the production team, actors, and technicians and reaffirmed the Government’s commitment to supporting the local film industry.

During the tour, Albert Martinez, CEO of Lantica Media, explained that the set was built from the ground up by Dominican hands exclusively for filming the movie, which reaffirms the industry’s growth after the pandemic.

She also revealed that the productions made by Lantica had injected more than US$200 million into the Dominican economy by 2022.

Vargas Gurilieva, director general of the DGCINE, highlighted that from 2021 to date, foreign productions in the country had contributed more than US$395 million to the economy, generating more than 15 thousand jobs, according to the economic impact study carried out by Apricus Consulting Group.

Accordingly, President Abinader thanked Lantica Media and the Directorate General of Cinema for their continuous efforts in positioning the Dominican film industry and attracting significant projects to the country.

Upon his arrival, the president was received by producers JJ Hook and Joe Silver, who explained aspects of the shooting while one of the scenes was being filmed.

The president also met the film’s cast, including American actor Jake Gyllenhaal and boxer Conor McGregor, who highlighted the beauty of the Dominican Republic.

The film, produced by Metro Goldwyn Mayer, began shooting in the country last month and employs many Dominican film industry professionals.

The event was attended by the Minister of Industry and Commerce, Víctor -Ito- Bisonó; the Mayor of Villa Hermosa, Favio Antonio Noel; the Director of Indotel, Nelson Arroyo, among other officials.

Barceló Bávaro Grand Resort gastronomic festival to be held: Culinary Week 2022

The Barceló Bávaro Grand Resort complex facilities in Punta Cana are ready to celebrate the 7th edition of the gastronomic week, “Culinary Week 2022,” from October 16 to 23, 2022.

The culinary event will have the participation of ten renowned national and international chefs who will show the best of their cuisine for a whole week, preparing seven themed dinners with flavors from all over the world to enjoy an authentic gastronomic experience; bringing together Italian, Spanish, Mexican, international, French and Caribbean gourmet haute cuisine.

The gastronomic event will be inaugurated with a cocktail on Sunday, October 16, where personalities from the gastronomic world and the tourism sector will meet; It is an event aimed at the general public who love good cuisine, which presents different packages of offers in lodging so that they can enjoy the program to be developed in the week.

For Monday 17, the dinners begin with the theme of international cuisine with a focus on meats by chef Alessandro Luca from the Aura restaurant in Cap Cana.

French cuisine will be represented on Tuesday 18 by chefs Nicolás Frigerio and Paula Fernández de Nipau. While on Wednesday, 19, lovers of Spanish cuisine can enjoy chef Francis Pena from El Gallego restaurant.

The week continues on Thursday, 20, with international cuisine by chef Cristóbal Martos of La Cassina restaurant; the gastronomic event continues on Friday, 21, with Italian cuisine represented by the well-known Neapolitan chef Ciro Casola.

On Saturday, the 22, Mexican food fans will have their space with the themed dinner of this country by Mexican chef Alejandro Garduño of the Occidental Caribe hotel.

Culinary Week 2022 will culminate with a Caribbean dinner by the chefs of Barceló Bávaro Grand Resort and Occidental Caribe, Roberto De la Cruz, Hilario Martínez, and Nelson Minaya.

InterEnergy announces US$1 billion investment for decarbonization

Santo Domingo, DR
InterEnergy Group announced its partnership with Brookfield Renewable, and its institutional partners, and Stonepeak to further expand its existing commercial platform as it accelerates its transition to net zero emissions.

As part of the transaction, Brookfield and Stonepeak will invest up to US$1 billion in InterEnergy over the next four years, propelling the energy group to a leadership position among clean energy companies in Latin America and the Caribbean.

InterEnergy has a 30-year track record of providing reliable, cost-efficient and clean energy to people and cities in the Dominican Republic, Panama, Jamaica, Chile and Uruguay through its solar, wind and natural gas assets.

The Company plans to use the Brookfield Renewable and Stonepeak investments to execute a renewable development portfolio of more than 1.0 GW, increase deployment of its services in the regions in which it operates, facilitate its energy transition and grow the business sustainably for the long term. Nicolas de Narvaez, senior vice president of Brookfield Asset Management, said, “We are very pleased to partner with InterEnergy to help deliver on its development plan for the region and support the company in its energy transition.