Grupo Energético 23 (GE23) announced STOA ‘s investment in Poseidon Energía Renovable (PER) , a company in charge of the development, financing and active management of the 100 MW Los Guzmancito Wind Farm , located in the municipality of Luperón, Puerto Plata. With STOA’s investment, the project will nearly double its capacity by adding a US$128 million Phase II consisting of an additional 13 turbines. The National Energy Commission (CNE) granted in December 2021 the definitive concession for this expansion of the project. The phase mentioned above recently began its construction after an inaugural ceremony with the President of the Republic.
“We are delighted to partner with STOA , which brings deep wind expertise and international best practices on environmental and social governance to the project and to our country,” said Ernesto Armenteros, Partner at GE23 and CEO of PER.
While Roberto Camino L., managing partner of GE23, maintains that “the expansion of Los Guzmancito will create thousands of local jobs during construction and several dozen permanent ones.
It will also create roads to the previously inaccessible mountain and coastal terrain, to the benefit of nearby cruise ship tourism, and the Guzmancito community itself will benefit from the restoration of schools, churches, sports facilities, and pumps for running water and irrigation.”