Baní · Province of Peravia · Dominican Republic

150 MW Solar PV + 194 MWh Battery Storage.
Construction-ready. Fully permitted.

A utility-scale solar and storage project on single-axis trackers, backed by a 25-year Definitive Concession from the Dominican State, with all critical permits secured and off-take guaranteed by law.

25-year Definitive Concession to 2048
USD 185.0M total investment
298.5 GWh annual generation (P50)
1.51x average DSCR
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150 MWn
Installed Capacity
194 MWh
Battery Storage
11.5%
Project IRR (Unlevered)
1.51x
Average DSCR (P50)
7 yrs
Payback Period
The Opportunity

Explore the investment case

A construction-ready asset in one of the fastest-growing power markets in Latin America, in the country's proven solar corridor.

Market Opportunity

Demand up 59% since 2019, government tenders oversubscribed, a 700 MW export cable to Puerto Rico approved, and a USD 2.2B tourism hub rising in NPG's own region.

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The Project

150 MW on single-axis trackers with bifacial modules and a 194 MWh BESS dispatching into peak evening prices — tier-one equipment, EPC by 20 Solar Energy.

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Approvals Secured

25-year Definitive Concession, environmental license, ETED interconnection, SIE registration, land appraised at USD 32.4M — off-take guaranteed by law.

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Financial Highlights

USD 185.0M total project cost — senior secured project finance on a 70/30 structure at market terms. USD 717.5M total 20-year revenue on conservative, below-market tariffs.

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Baní — The Solar Corridor

One of the highest-irradiance regions in the Caribbean, where four utility-scale solar farms are already operating or in development in Peravia province alone.

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Full documentation, ready for diligence

Business Plan, Financial Model 2026, Definitive Concession, environmental license, land appraisal, technical memoranda and independent legal opinions — available to qualified investors and lenders.

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Market Opportunity

The right market. The right region. The right time.

The Dominican Republic is one of the fastest-growing power markets in Latin America — demand is outpacing supply, the government is actively contracting new generation, and a newly approved interconnection will turn the country into an energy exporter to Puerto Rico.

+59%
Peak demand growth since 2019 — reaching 4,250 MW in 2026
+50%
Expansion of firm installed capacity projected 2025–2028
700 MW
Export capacity to Puerto Rico approved by the U.S. DOE (2026)
30%
Renewables target for 2030 — the 25% milestone already reached
The Dominican power market at a glanceOfficial figure
SENI total installed capacity (Jan 2026)7,054 MW
Solar installed capacity — 22% of the system1,581 MW
Peak demand (Jan 2026) → 2026 forecast3,145 → 4,250 MW
Renewables in operation → planned to 20282,000 → +1,000 MW
Distributors' spot purchases (Jan 2026)27.936 US¢/kWh
Distributors' contract purchases (Jan 2026)14.783 US¢/kWh

Source: Ministry of Energy and Mines, Boletín de Generación y Gestión de Energía — January 2026 (Vice-Ministry of Electric Energy); Presidency of the Dominican Republic, June 2026.

What the regulator is saying

"We must work to have a financially sustainable electrical system… the goal of doubling GDP by 2036 requires doubling the energy supply." The CNE confirms the country has reached its 25% renewables milestone and is advancing toward 30% by 2030 — and notes that new renewable projects increasingly include batteries, a technology that has reached "technical maturity and financial viability."

— Edward Veras, Executive Director, Comisión Nacional de Energía (CNE), Mercado Energy Summit, June 2026. NPG's solar + 4-hour BESS configuration is precisely the asset class the regulator is prioritizing.

The largest energy expansion in decades — and it's still not enough

Peak demand will hit 4,250 MW in 2026, up 59% from 2,681 MW in 2019, forcing a +50% expansion of firm installed capacity by 2028 — described by the Ministry of Energy and Mines as the largest energy expansion in decades. The State launched dedicated tenders in 2025 for renewables and battery storage, targeting 300 MW of batteries before 2027; the flagship tender (EDES-LP-NGR-01-2025) sought 600 MW of solar-plus-storage and was oversubscribed with offers exceeding 1,500 MWp. Demand for new capacity far exceeds what is being built.

Exporting power to Puerto Rico — Project Hostos

In February 2026 the U.S. Department of Energy issued a presidential permit for a ±91-mile HVDC submarine cable linking the Dominican grid to Puerto Rico — up to 700 MW of transmission capacity, backed by USD 2.5 billion in private investment, targeted for 2031. The DR is positioning itself as the Caribbean's energy hub, opening a premium export market for exactly the kind of dispatchable renewable energy NPG will produce.

A proven market

Utility-scale projects in the DR get financed, built and paid: Montecristi Solar (116 MWp, USD 250M+ German investment), Ege Haina's 200 MW Esperanza hybrid plant (2026), and the 414 MW Energía 2000 gas plant at Manzanillo, which entered commercial operation in April 2026. The spot market distributors pay (27.9 US¢/kWh) runs well above NPG's modeled BESS tariff of 17 US¢/kWh.

Pedernales–Cabo Rojo: a new demand center in NPG's own region

The government is investing USD 2.245 billion to create a new world-class tourism destination in the Southern Region — home of Bahía de las Águilas. The Cabo Rojo International Airport opens in mid-2026; the first hotel (Iberostar, 588 rooms) opens in late 2026, followed by two Hyatt resorts in 2027, scaling to ~12,000 rooms. All of this new load lands in EDESUR's southern territory — NPG's contracted off-taker.

Sources: MEM Boletín de Generación y Gestión de Energía (Jan 2026) · CNE, June 2026 · Presidency of the DR, June 2026 · U.S. DOE presidential permit (Feb 2026) · Presidency, Cabo Rojo–Pedernales program.

Project Status

All foundational approvals secured

This is a construction-ready asset, not a development risk. Every critical regulatory and environmental approval required for construction is already in place.

✓

Definitive Concession

Granted by the Comisión Nacional de Energía (CNE) and signed with the Dominican State on July 25, 2023 (Resolution CNE-CD-IRE-012-2023), for 25 years — to July 25, 2048.

✓

Environmental License

License No. 0379-20-MODIFICADA issued by MIMARENA, August 9, 2022.

✓

Grid Interconnection

ETED interconnection agreement approved. Interconnection point 3.0 km from site, connecting to EDESUR (Southern Region distributor).

✓

SIE Registration

Registered with the Superintendencia de Electricidad under the Special Regime of Law 57-07.

✓

Land Secured

4,406,824 m² independently appraised at USD 32,444,789 by IATASA (November 20, 2025).

✓

Off-take Guaranteed by Law

Under Articles 64–66 of the Implementing Regulations of Law 57-07, EDESUR is legally obligated to interconnect, give purchase preference to, and pay for the energy generated. Independent legal opinion (Estrella & Tupete, Oct 24, 2025) confirms the Concession carries the same creditworthiness as a PPA.

The Project

Utility-scale solar on trackers, with integrated battery storage

Located at Paraje Cerro Gordo, Baní, in the Southern Region of the Dominican Republic, with average solar yield of 1,990 kWh/kWp per year (EPC feasibility study, July 2026). The full array is mounted on single-axis solar trackers, and energy is sold through bilateral contracts with EDESUR and Spot Market sales, with the BESS dispatching stored energy during high-price evening peak hours.

Phase I — 50 MWn / 59.696 MWp + 194 MWh BESS

Photovoltaic plant integrated with a 50 MW / 194 MWh battery storage system, fully covered by the existing Definitive Concession.

Phase II — 100 MW expansion

Injected directly into the National Interconnected Electrical System (SENI) under the doubling mechanism of Article 5, Paragraph I of Law 57-07, triggered once at least 50% of Phase I is installed.

159.696 MWp
Total solar capacity
226.1 GWh
Annual daytime sales (P50)
63.7 GWh
Annual nighttime via BESS
34.5 / 138 kV
Substation, 3.0 km line
Technology

Tier-one equipment, bankable execution

The plant integrates a fully certified, tier-one technology stack: the entire array tracks the sun on single-axis trackers, paired with high-efficiency bifacial modules to maximize yield from Baní's exceptional solar resource. Execution is structured as a full turnkey EPC with dedicated owner's engineering.

Solar trackers — SINGSUN single-axis (1P)
Independent-row tracking, ±45° range, HDG/C4 corrosion class
PV modules — LESSO N-type TOPCon bifacial
700–720 Wp, up to 23.18% efficiency, 30-year linear power warranty
Inverters — CRRC string inverters
99.02% max efficiency, 12 MPPT, 1500 Vdc, IP66
Storage — Risen eTron liquid-cooled LFP
5 MWh containers, 195.6 MWh BOL, UL 9540/9540A, NFPA 69 fire suppression
EPC & Main Contractor — 20 Solar Energy LLC
Houston-based turnkey execution, supervision and lender-facing technical reporting
Equipment Supplier — NARI Group Corporation
Principal equipment packages; affiliate of State Grid Corporation of China
SCADA / EMS — NARI PCS-9700
IEC 61850 plant-level active/reactive power control
Standards across the stack
IEC, UL and NFPA certified; 12-yr product / 30-yr performance module warranties

Source: Technical Memorandum 20SE-TM-2026-BANI-01, 20 Solar Energy LLC — Project Management & Owner's Engineering (June 2026), with manufacturer annexes.

Financial Highlights

Conservative tariffs, material upside

All figures from the project's Financial Model (July 2026) — 70/30 senior secured structure at market terms, with reserves and a year-10 refinancing built in. Modeled tariffs sit below current official market prices, making the eventual PPA execution upside, not risk.

Revenue ChannelAnnual GWhModeledOfficial Jan 2026
Solar PV (daytime)226.1$0.1200$0.12705
BESS (spot, peak)63.7$0.1700$0.27936
Blended average289.8≈ $0.1310 / kWh

Official prices: January 2026 Generation and Energy Management Bulletin, Vice-Ministry of Electric Energy.

Why the evening block is the strongest revenue in the stack

19:01–24:00
Peak hours as defined by the system operator (OC) — exactly the BESS dispatch window
0 MW
Solar output during peak hours — 1,581 MW of installed solar produce nothing after sunset; thermal units set the price
25.0–27.9¢
What distributors actually paid per kWh in the spot market (Dec-2025 / Jan-2026 official bulletins)
17.0¢
What NPG models for that same window — a ~35–40% discount to observed peak-window prices

Sources: MEM Generation & Energy Management Bulletins (Dec-2025, Jan-2026); Organismo Coordinador (peak-hours definition, Acta 31, Oct-2021; marginal cost reports). Full market analysis available in the project data room.

Financing StructureValue
Total project costUSD 185,000,000
Senior facility (70%)USD 129,500,000
Sponsor equity (30%)USD 55,500,000
Structure8.5% market indicative · 10-yr tenor on a 15-yr amortization profile (24-mo grace; year-10 balloon refinanced)
Annual debt service (years 1–10)USD 18,358,176
Income tax0% Years 3–12 (Law 57-07); 25% Years 13–20
Operating YearYear 3Year 5Year 10Year 15Year 20
Revenue (USD)52,895,30052,315,05250,892,12649,507,90348,161,330
EBITDA (USD)44,395,30043,471,65241,128,29838,727,84836,259,278
$717.5M
Total revenue (20 years)
$726.9M
Total EBITDA (20 years)
$425.0M
Cumulative free cash flow (20 yrs)
$18.8M
NPV at 10% discount (unlevered)
1.60x
DSCR — Year 1 (P50)
1.41x
Minimum DSCR
Capital Structure

A concession-anchored security package

The principal asset is the 25-year Definitive Concession; together with the appraised land and permits, total collateral substantially exceeds the loan — strong downside protection independent of operating performance.

Collateral ComponentValue (USD)
Definitive Concession (exclusive rights to 2048)Principal security interest
Land — 4,406,824 m² (IATASA, Nov 20, 2025)32,444,789
Permits, titles and development11,000,000
Certified hard-asset collateral (land + permits)43,444,789
USD 43.4M
Certified hard assets — land (IATASA) + permits
2.8x
Year-10 balloon vs EBITDA — routinely refinanceable
Law 57-07 + Border Law 12-21
Import-duty & income-tax exemptions, priority dispatch into SENI, carbon-credit eligibility
Location · Baní, Province of Peravia

Baní: the solar heart of the Dominican South

An exceptional solar resource, a proven utility-scale solar corridor, and a thriving agro-export economy — 65 km west of Santo Domingo on the highway that leads to the country's new tourism frontier in Pedernales.

One of the Caribbean's best solar resources

The site at Paraje Cerro Gordo (18°18'N, 70°20'W, 63 m altitude) sits in one of the highest solar-irradiance regions of the Caribbean, on the dry southern coastal plain shielded by the Cordillera Central. The project's engineered average yield is 1,990 kWh per kWp per year (EPC feasibility study, July 2026) — and the full 150 MW array is mounted on single-axis trackers with bifacial modules, following the sun across the day to harvest even more of that resource than fixed-tilt plants can.

A proven solar corridor — four utility-scale farms and counting

Peravia province is already the most active solar construction zone in the country: Peravia I (70 MWp, Baní — AES, with battery storage, operating since August 2025), Peravia II (70 MWp, Baní, operating since July 2025), Lucila (11.4 MWp, Nizao, July 2025) and Tornasol (70 MWp, Nizao, advancing to definitive concession). The DR added nine new solar parks in 2025 alone. International developers have already validated Baní's resource, grid and logistics — NPG holds its own 25-year concession in the same corridor, and adds what the system lacks most: storage.

An agro-export powerhouse

Baní, capital of Peravia, is the Dominican Republic's "mango capital" by law (Law 36-25) — the heart of an export industry that shipped over 34 million kilograms of mango in 2025, generating more than USD 54 million. Home to the Banilejo agro-industrial tradition, the Las Calderas naval bay, the famous Dunas de Baní and the Salinas salt flats, the city anchors a growing commercial and agro-industrial load in EDESUR territory — right where NPG will inject its energy.

Gateway to the new Dominican South

Baní sits on the Sánchez highway corridor that links Santo Domingo to the southwest — the same corridor the government is transforming with the USD 2.245 billion Cabo Rojo–Pedernales tourism development, its new international airport (opening mid-2026) and ~12,000 planned hotel rooms. As the South's economy accelerates, Baní is its commercial and energy crossroads.

Satellite Views

The site, the region, the corridor

Satellite view of the NPG project site
Project site — 4,406,824 m² secured at Paraje Cerro Gordo
Regional satellite view, Baní and surroundings
Regional view — adjacent to Baní, Province of Peravia
Southern Dominican Republic satellite view
Southern Region — connected to EDESUR distribution territory

Sources: project Executive Summary & Technical Memorandum (2025–2026) · elDinero — nine new solar parks in 2025 · CNE — Peravia Solar II definitive concession · Energía Estratégica — Tornasol · Listín Diario — mango exports 2025.

Contact

Request access to the data room

Full documentation is available to qualified investors and lenders: Business Plan, Financial Model 2026, Definitive Concession, environmental license, land appraisal, technical memoranda and independent legal opinions.

Transaction Contacts

Dr. Herbert Betancourt

Financial Principal · NPG Natural Power Generation, S.R.L.

hbetancourt@jabesdevelopmentcorp.com
+1 (407) 617-8271

Frania G. Gutiérrez

Project Structuring & Investor Relations

fgutierrez@franiag.com
+1 (321) 274-2816

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