Santo Domingo.- Rafael Vélez Domínguez, president of the Caribbean Transmission Development Company (CTDC), has disclosed that connecting the Dominican Republic with Puerto Rico via a submarine electrical cable would entail a cost exceeding US$1,000 million.

Reported by El Nuevo Día, Vélez, a key figure behind the submarine cable initiative, underscored its potential to forge stronger ties between the two largest economies in the Caribbean. Despite administrative hurdles, it is anticipated that the project could reach fruition by 2030.

CTDC has formally presented a proposal to the federal government, seeking presidential authorization to proceed with the ambitious endeavor.

The Caribbean Transmission Development Company is diligently working towards securing United States presidential approval to advance its vision of installing an underwater cable for transmitting electrical energy from the Dominican Republic to Puerto Rico.

While informal discussions have taken place in the Dominican Republic to introduce the project, Rafael Vélez, the company’s president and CEO, has refrained from disclosing specific participants or formally requesting requisite approvals from local authorities.

Named the Hostos Project in tribute to Eugenio María de Hostos, this initiative could potentially inject up to 500 megawatts of energy into Puerto Rico’s electrical grid, accounting for approximately one-sixth of the island’s peak hour electricity demand.