Deutsche Bank and the pool of European banks it leads disimbursed the first US$200mn of the US$632mn pledged to finance the Dominican Republic coal-fired power plant Punta Catalina (740MW).
The deposit was made to Tecnimont, which is part of the Odebrecht-led consortium carrying out the project (pictured) that includes Acero Estrella, according to Vanguardia del Pueblo, the official paper of the ruling Liberación Dominicana party. The other lenders are Santander y Popular and ING Bank.
The Caribbean nation’s finance ministry obtained a waiver from Deutsche due to difficulties with securing disbursement from Brazil’s economic and social development bank BNDES for another US$656mn, as a result of the South American country’s economic and political crisis, stated the report, which adds that the ministry has the option of placing local or international bonds for US$656mn to complete the financing.
Polaris Energy Nicaragua completed drilling well SJ6-3, the first of three new production wells at the San Jacinto geothermal project.
“Preliminary measurements of temperature and drilling fluid losses suggest a moderately productive well, though at this early stage we are unable to measure steam flows,” parent Polaris Infrastructure said in an update.
“The new well will require a 30 to 60 day heating-up period during which valuable temperature data will be collected, after which we will have thermal recovery and move to production testing.”
Polaris and rig services provider Iceland Drilling aim to spud the second well, SJ14-1, in January, with completion scheduled for March.
Uruguay’s industry, energy and mining ministry has launched an energy efficiency assistance line (LAEE) and energy efficiency trust (FEE) to help companies finance studies and implement projects of this nature.