Both entities will provide $50m each in equity to power sectory company InterEnergy Holdings (IEH).
The investment employed to develop cleaner energy sources in the Caribbean region as well as expanding similar operations in Latin America.
IEH’s chairman and CEO Rolando Gonzalez Bunster remarked that the investment is a natural extension of its long-term partnership with IFC.
"We will work together to bring more reliable, cost-efficient and cleaner energy production to the Dominican Republic and also plan to be directly involved in the development of power sector solutions for Haiti, facilitating economic development in the island of Hispaniola," added Bunster.
The investments from IEH will help fuel costs by increasing the country’s capacity to import liquefied natural gas, while also developing renewable energy sources, such as wind and solar power.
IFC director for Latin America and the Caribbean region Jean Philippe Prosper noted, "This investment fits with IFC’s strategy in the Caribbean to improve competitiveness through improved access to infrastructure services, and mitigate climate change by developing cleaner energy sources."
