Local April 23, 2024 | 3:01 pm

World Bank to support Dominican Republic’s energy transition initiatives

Santo Domingo.- The Minister of Energy and Mines (MEM), Antonio Almonte, has announced that the World Bank (WB) will provide support to the Dominican Republic in various initiatives aimed at promoting the energy transition. This support was discussed during the “Energy Transition Acceleration Initiative (ETA)” event held in Washington DC, United States.

The World Bank will assist the country in building technical capacities and implementing regulatory mechanisms to foster the development of renewable energies, distributed generation (such as the use of solar panels in homes and small businesses), and medium to large-scale storage systems.

Following a working meeting with WB officials, Minister Almonte outlined the scope of collaboration. It was agreed that the World Bank will provide technical assistance in preparing and coordinating tenders for Power Purchase Agreement (PPA) contracts in renewables. Additionally, the bank will assist in drafting terms for tenders related to large-scale energy storage batteries, which are essential for the national electrical system.

Minister Almonte emphasized that this meeting with World Bank officials will expedite the Dominican Republic’s efforts to diversify its energy matrix, with a significant emphasis on renewable energies. This aligns with the country’s goals of achieving carbon neutrality by 2050, as outlined in the Paris Agreement.

The WB delegation, led by Gabriela Elizondo, Energy Sector Practice Manager for Latin America and the Caribbean, and David Villar Ferrenbach, Energy Specialist, met with representatives from the Dominican delegation, including Miguel Díaz, Vice Minister of Mines, and Chadia Abreu, Advisor on Energy Regulation and Clean Technologies at MEM.

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