• The investment is expected to strengthen the reliability of the electricity sector and create jobs in Montecristi.

  
• With a total financing of $902 million, the project represents the largest private-sector-led energy investment in the Dominican Republic.

WASHINGTON –  IDB Invest signed a financing agreement with Manzanillo Gas & Power, S.A. and Consorcio Manzanillo Energy, S.A. to develop, build, and operate a high-efficiency natural gas-to-power complex in the northwest of the Dominican Republic. The project includes two combined-cycle power plants with an approximate installed capacity of 845 MW, infrastructure for LNG supply, and a transmission line connecting the facilities to the national grid. 

The investment aims to strengthen energy security and reliability in the Dominican Republic, where electricity demand has grown nearly 7% annually in recent years. Located in Montecristi, the project is expected to create economic opportunities for local communities through jobs and supplier engagement. Once operational, the new facility is expected to increase the country’s installed capacity by about 15%, reducing service interruptions and supporting productivity for households, schools, and businesses.  

IDB Invest played a catalytic role in structuring and mobilizing the $902 million financing package. The transaction includes a $125 million term loan from IDB Invest, which anchored a syndicated facility arranged with Citibank, N.A., and JPMorgan Chase Bank, enabling the mobilization of $777 million from local and international financial institutions. This marks the largest private-sector-led energy project financing in the country’s history and reflects IDB Invest’s “Originate to Share” business model, which leverages its structuring expertise to attract additional private capital and expand the impact of development financing across the region. 

IDB Invest will also provide non-financial support in line with its Environmental and Social Sustainability Policy, aimed at meeting international best practice in environmental and social management, stakeholder engagement, and community engagement. This includes implementing a local hiring strategy and robust public consultation processes. The project will also integrate resilient infrastructure design and biodiversity measures to promote the conservation goals of the nearby Manglares de Estero Balsa National Park, strengthening local biodiversity and ecotourism while contributing to long-term sustainability.  

About IDB Invest 

IDB Invest, a member of the IDB Group, is a multilateral development bank committed to promoting the economic development of its member countries in Latin America and the Caribbean through the private sector. IDB Invest finances sustainable companies and projects to achieve financial results and maximize economic, social, and environmental development in the region. With a portfolio of $22 billion in assets under management and more than 440 clients in 25 countries, IDB Invest provides innovative financial solutions and advisory services that meet the needs of its clients in a variety of industries. Visit our website: www.idbinvest.org/en.

About Manzanillo Gas & Power

Manzanillo Gas & Power (MG&P) is a strategic energy project located in Manzanillo, Montecristi Province, Dominican Republic, designed to strengthen national energy security and stability through electricity generation from natural gas as a modern, efficient, and reliable solution for the country’s future. The project is being developed in accordance with international environmental, social, health, and safety standards, incorporating preventive environmental management based on management plans and continuous monitoring aimed at protecting surrounding ecosystems and responsibly managing associated impacts. It also promotes responsible engagement with local communities and authorities, contributing to the economic and social development of its area of influence and to the transition toward a more diversified, resilient, and sustainable energy matrix for the Dominican Republic.