The Dominican Republic's Journey Toward a Sustainable Energy Future
Posted on 8th May 2024
The Dominican Republic is vigorously advancing its renewable energy sector with an ambitious target to meet 25% of its energy needs with renewables by 2025. This commitment is underscored by substantial investments and initiatives across various forms of renewable energy, including solar, wind, and hydropower.
The country has successfully installed significant hydropower capacity, about 525.5 MW, which generates around 15,000 GWh of electricity annually. Additionally, the push into solar energy is evident with several large-scale projects underway.
Wind energy is also a major focus, with the installed capacity reaching 417 MW in 2022. This capacity is expected to rise as with the establishment of new wind projects, contributing to the country's renewable portfolio.
The nation's government has streamlined processes for renewable energy projects, offering long-term power purchase agreements to assure investors of returns. Such policy frameworks and supportive measures have created a favourable environment for the renewable energy sector's growth.
Sources:
- https://dominicantoday.com/dr/local/2023/01/25/dominican-republic-will-have-600-mw-in-renewable-energy-by-the-end-of-2023
- https://www.bizlatinhub.com/world-banks-us400-million-investment-to-increase-renewable-energy-in-the-dominican-republic/
- https://ecpamericas.org/newsletters/dominican-republic-a-major-leap-in-renewables/
- https://www.trade.gov/country-commercial-guides/dominican-republic-renewable-energy