IDB Invest finances project to enhance energy security in the Dominican Republic

IDB Invest has formalized a financing agreement totaling over 900 million dollars for the development of a natural gas energy complex in Montecristi, in the northwest of the Dominican Republic. The transaction, representing the largest private-sector-led investment in energy infrastructure in the country’s history, includes a 125 million dollars loan from IDB Invest’s own capital and the mobilization of 777 million dollars from international and local financial institutions through a syndicated loan with Citibank and JPMorgan.

The project, being executed by Manzanillo Gas & Power and the Manzanillo Energy Consortium, includes the construction of two combined-cycle power plants with a total installed capacity of 845 MW, as well as liquefied natural gas (LNG) infrastructure and transmission lines. This initiative is estimated to increase the country’s installed capacity by 15%, meeting electricity demand that has grown at an annual rate of 7% and strengthening the stability of the interconnected system against service interruptions.

Under the “Originate to Share” model, IDB Invest not only guarantees financial closure but will also oversee compliance with international environmental and social sustainability standards. The project integrates a resilient infrastructure design and conservation plans for the Estero Balsa Mangroves National Park, aligning energy security with biodiversity protection and local job creation in the country’s northwest region.