Monte Plata, a 33.4 megawatt (MW) photovoltaic solar array located on the Dominic Republic, went live end of this March.
Monte Plata project, named after the capital city and province of its location, will deliver more than 50,000 megawatt hours (MWh) of clean energy to the country's grid every year. Its 132,000 solar panels triple the number of solar panels in the entire Dominican Republic, making it the largest solar power project of its kind in the Caribbean.
Monte Plata was designed and deployed by Phanes Group, the international solar developer, asset manager and investment manager headquartered in Dubai together with its partners General Energy Solutions (GES) and Soventix. "This project is a demonstration of how multiple stakeholders can work together to co-develop solar projects that are viable and bankable in emerging markets – successfully delivering access to energy and unlocking huge economic opportunities for remote communities," said Martin Haupts, CEO of Phanes Group.
Reportedly, Dominican Republic has spent over $4 billion annually on fossil fuel imports to run petroleum, coal, and natural gas-based power plants in the past few years. "With much of the Caribbean challenged by expensive fuel imports, solar has the ability to liberate these island nations from economic and energy dependency, increasing the energy security and reducing greenhouse gas emissions while helping elevate communities," continued Haupts.
Reportedly, the project created over 1,300 jobs, with the majority being local jobs in Monte Plata.