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With this investment, CMI Energy, part of Corporación Multi Inversiones-CMI-, expands its presence and joins the interconnected national power grid, providing 50 megawatts of clean energy. With this investment, CMI Energy supports the Dominican Republic efforts to transition to a cleaner and more sustainable energy matrix.

Dominican Republic, November 04, 2021 - In order to continue consolidating and strengthening its growth strategy, CMI Energy – part of Corporación Multi-Inversiones (CMI)- announced the start of operations of its first renewable energy plant in the Caribbean. With a total capital investment of US$ 72.5 million and 50MW in contracted capacity, the solar park of Mata de Palma in the municipality of Guerra, province of Santo Domingo, joins the CMI Energy portfolio to generate a sustainable development impact in the Caribbean.

With the incorporation of Mata de Palma to CMI’s renewable energy generation portfolio, CMI Energy exceeds 800 MW of installed capacity through several renewable energy operations across 6 countries. Through the technological and geographical diversity of the company, with hydraulic generation in Guatemala; wind in Honduras, Nicaragua, and Costa Rica; and solar in El Salvador, Honduras and now the Dominican Republic -with Mata de Palma- CMI Energy has expanded its presence, positioning itself as the largest and most diversified renewable private generator in the Central American and Caribbean region.

Mata de Palma has more than 200,500 solar panels, and world-class technology, which has made it a point of reference in the country. Mata de Palma, which was developed by BAS Corporation and built by Dominion, allowed the creation of approximately 250 direct and indirect jobs, as well as subcontracting that allows the park's operation to meet international quality standards.

“With the acquisition and operation of Mata de Palma, CMI Energy marks its beginning in the Caribbean and, especially, in the Dominican Republic. Mata de Palma supplies clean energy and allows the country to feed its high level of economic growth, as the Dominican government points out, to have 25% of its electricity from non-conventional renewable sources,” said Enrique Crespo, CEO of CMI Capital.

He also noted: “CMI Energy reaffirms its commitment to continue working in every area where it operates, as it has done for more than 25 years, with the highest quality standards, respect for human rights and a strong commitment to care for, protect and conserve the environment and natural resources. Through our total generation of renewable energy, we are preventing emissions of more than 1.5 million tons of CO2 per year and thereby contributing to mitigate climate change. Specifically, in the Dominican Republic, with the generation of Mata de Palma, the annual emission of approximately 60,800 tons of CO2 is avoided, which shows our great environmental commitment to the country.”

The launching of Mata de Palma is another one of the many milestones that CMI has achieved over 100 years. Since 2002, CMI acquired Grupo Malla, a highly renown company which for decades participated in the Dominican market. Since then, CMI has operated 2 flour distribution centers, 2 flour processing plants and 6 flour mills in the country, and now Capital group is expanding its presence in the Dominican Republic. 

“The size of our business and our geographical footprint requires us to not only make our operations sustainable, but also to contribute in a measurable way to the development of countries. Therefore, through our business divisions we seek to be an active part, from the role of agents of change in the region, and now in the Dominican Republic, through our capacity to generate investments that positively impact economic, environmental and social approaches,” said Crespo.

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About Corporación Multi-Inversiones - CMI-: Corporación Multi-Inversiones is a Latin-American family-owned corporation that generates investment and employment in the region, made of more than 40 thousand employees operating in more than 15 countries, particularly in Central America and the Caribbean. Through its Business Groups: Capital and Food, creates a sustainable impact in the communities where it operates, offering excellent, quality products and services, consolidating itself as one of the most important business groups in Latin America. For more information: www.somoscmi.com

About CMI Energy: CMI Energy, the business division of CMI Capital, stands out as the region's largest private renewable energy platform, with its highly diversified portfolio through technologies and geographies, its operational capacities and trajectory, and its high and ongoing commitment to sustainability.  Operating hydroelectric plants in Guatemala, solar plants in El Salvador, Honduras and the Dominican Republic, wind farms in Honduras, Nicaragua and Costa Rica, which exceed 800 MW of installed capacity.

For more information: https://somoscmi.com/es/agrupaciones-de-negocio/cmi-capital