Economy July 4, 2018 | 12:33 pm

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Tax deadlock continues at US$40.0M solar energy project

Barahona, Dominican Republic.- The company Emerald Solar Energy, which develops the Canoa Solar energy project, at a cost of US$40.0 million, on Tues. acknowledged that the initiative is at risk  due to the conflict with the towns of Vicente Noble and Canoa, which demand payment of US$630,000.00 in excise taxes.

Fernando Joffre, country director of the Canada-based company, said however that he hopes to reach an agreement with the towns to continue with the project.

In a press conference held at a local restaurant, Joffre said his company calculated its tax obligation at US$ 23,000.00.

He noted however that to break the deadlock they have agreed to pay an additional US$7,000.00, for a total of US$30,000.00,

He said that besides that figure, a US$120,000.00 fund is added for works of social impact to benefit both communities. “We’re talking about a sum of US$150,000.00.”

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