SANTO DOMINGO, Dominican Republic, Oct. 13, 2011 /PRNewswire/ -- VICINI, a leading asset management firm in the Dominican Republic and throughout the Caribbean, celebrated the inauguration of Los Cocos, a wind farm projected to be the largest in the Caribbean with a generation capacity of 100 Megawatts. Today marked the completion of the first phase of the project, including 19 wind mills that accounts for approximately 3% of the Dominican Republic's power capacity and provides electricity to more than 90,000 families on the island.
(Photo: http://photos.prnewswire.com/prnh/20111013/NY86477 )
Over the next couple of years, the wind farm will total in 33 wind mills of 125 meters high, each generating 1.8 Megawatts. The project, which is being jointly developed and operated by EGE Haina and the Energetic Consortium of Punta Cana, will generate over 10% of the country's power capacity upon completion.
"We are particularly proud of this investment, which marks the first of its kind in the Dominican Republic," said Rafael Velez, VICINI's Energy and Industry fund manager. "Alternative and traditional energy resources are critical to the future economic growth of the Caribbean, and VICINI is in a unique position to spearhead this growth by promoting the modernization of the energy sector and investing in alternative energies."
As the largest investor in the project, VICINI ensures that the project is being developed in conjunction with local communities and with the goal of spurring economic growth and development throughout the region.
"We are making a long term commitment to renewable energy and we do not intend to stop with Los Cocos," added Rafael Velez. "This type of investment is not only beneficial to the country, but most importantly, it makes good business sense. This is why we are exploring other opportunities in the Caribbean and in Central America to bolster our energy investments."
About VICINI
VICINI is a privately held assets management company focusing in various industries, including food and beverages, industry and energy, finances and insurance, communications media and tourism, and real estate, both in the Dominican Republic and the Caribbean and Central America.
Within the assets management industry, VICINI makes a difference because of its commitment to talent management and the sustainable development of the countries where it works. VICINI is a benchmarking economic partner with a legacy of over 150 years of history; during which time it has gone from family business to professionalism and diversification, which at this time are concentrated in the various managed and associated companies.
Media contact:
Karla Herrera
Edelman
(212) 704 - 4537
Karla.herrera@edelman.com
SOURCE VICINI
