MIAMI, USA – MAY 2, 2024 – Award-winning impact asset manager Deetken Impact Sustainable Energy (DISE), is thrilled to be the recipient of a CREF Awards for Excellence, as announced by New Energy Events, hosts of the Caribbean Renewable Energy Forum (CREF).
Awarded the Best Utility Scale Project, Cotoperi Solar is the largest solar photovoltaic project in The Caribbean, located in La Romana, Dominican Republic. Construction on the 162.6 MWp project began in December 2023, and when complete it is set to generate 275,000 MWh annually, which will avoid up to 4 million tonnes of CO2 over its lifetime, in addition to creating new quality jobs. The project has long term Power Purchase Agreements in place for the sale of 100% of the energy to be generated once the project is formally commissioned in 2025.
CREF 2024 Industry Awards; (from left to right) Jerry Butler – New Energy Events, Fernando Alvarado – Deetken Impact Sustainable Energy, Juan Carlos Pais – Grupo Pais, Rafael Zalvide – Acciona Energy, Alexa Blain – Deetken Impact.
This investment advances our Funds’ mandate to accelerate the transition to clean energy, while strengthening the resilience of the energy infrastructure in the Caribbean in alignment with SDG 7 – Affordable and Clean Energy. Contributing to the clean energy boom in the Dominican Republic, Cotoperí Solar Photovoltaic Park I, II , & III are part of the 17 renewable energy projects in the country that the Minister of Energy and Mines Antonio Almonte, estimates will add around 800 MW of renewable energy to the electricity mix, positioning the country well to meet its goal of generating 25% of its electricity from renewables by 2025.
“The investment in Cotoperí Solar, along with the leading renewable energy developer and IPP Acciona Energía and excellent Dominican co-investors such as Grupo Pais, is a fantastic way for Deetken Impact Sustainable Energy to complete the capital allocation of its two sustainable energy impact funds with 16 assets in Central America and The Caribbean, thereby maximizing social and environmental impact. In particular, Cotoperí will generate substantial carbon offsets, which aligns well with the interests of our investors. We are excited about similar investment opportunities that we see in The Caribbean that will keep us active during the coming years”
The 6th Annual CREF Industry Awards – which recognize excellence in projects, programs and people driving forward the clean energy transition in the Caribbean – were honored on stage last week at the 16th annual CREF in Miami.
The Awards were established to recognize leaders in the Caribbean energy sector who are making a lasting impact on the development of resilient and renewable energy systems in the region. Many award winners are first-movers, carving a path for project development in the region. Others have been in the region for years, and understand the nuances and needs of island nations pursuing a clean energy future.
This accolade is the second consecutive year that Deetken Impact Sustainable Energy (DISE) projects have been recognized, following a double win in 2023.
About Deetken Impact Sustainable Energy
Deetken Impact Sustainable Energy (DISE) manages two funds that co-invest in renewable energy and energy efficiency projects and companies in Central America and the Caribbean. Supported by its partnership with Deetken Impact, a Canadian impact asset manager focused on investments in women’s empowerment, clean energy, and social enterprises in Latin America and the Caribbean, DISE’s award-winning funds have 16 investments in 7 countries and a total of $60MM in committed capital. Together they jointly manage $145 million in impact assets with a diverse team of seasoned impact investment professionals based in Central America, South America, the Caribbean and Canada and a track record of more than two decades. DISE is a signatory to the Operating Principles for Impact Management and collectively with Deetken Impact partners, has been selected to the ImpactAssets 50 Impact Investment Fund Manager Showcase for four consecutive years.
About Grupo Pais
Grupo Pais is a diversified conglomerate that invests in the retail, commercial, real estate and energy sectors mainly in Dominican Republic. It makes direct investments and manages Publicly Regulated Funds that invest Dominican institutional savings into long term cash flow generating assets. Grupo Pais investment strategy is focused on co-investing with top tier market leading companies in the energy sector that are aligned in their vision.
About The Caribbean Renewable Energy Forum (CREF)
CREF is a conference designed to drive forward renewable energy implementation across the Caribbean. Backed by key government agencies and some of the world’s leading sources of development finance, CREF is a hands-on, results-oriented event which will tackle the bottle-neck issues of financing, regulation, and long-term project profitability. CREF’s participants include regional governments, utilities, the Caribbean private sector, as well as regional and international investors, technology providers, and other key stakeholders in this emerging sector. CREF is a vital forum for the region, and essential for any organization expecting to play a role in the renewable energy future of the Caribbean.
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