Plan for Reliable, Cost-efficient and Clean Energy to DR and Haiti
The $100 million endowment is an equity investment towards developing cleaner energy sources within the Caribbean, with plans of expansion into Latin American territories. The Dominican Republic has already made plans to cut down their emissions by 25% in time for 2030, and, already a proponent of the 'clean bill', Haiti's per capita carbon emissions is less than 185 other countries, at less than 0.1%.
The funding will be used by IEH to create avenues for the variegation of the energy resources of the Dominican Republic. It aims to improve the country's ability to import LNG (Liquefied Natural Gas) and implement greener solutions including solar and wind energy.
Describing the investment as the natural progression of a long-standing relationship between the IFC and his company, IEH's Chairman and CEO, Rolando Gonzalez Bunster says that through their plan to 'bring more reliable, cost-efficient and cleaner energy' to the Dominican Republic, they will facilitate the economic growth of both countries, as their plans will directly involve developing the power sector in Haiti.
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