The executives and officials sign the deal.
SANTO DOMINGO. – The Korea Electric Power Corporation (Kepco) and the Dominican State-owned Power Companies (CDEEE) on Monday agreed on a joint RD$1.75 billion project to rebuild all of the country’s power lines.
The Inter-American Development Bank (IDB) funding is in addition to other World Bank disbursements of more than RD$4.68 billion, with which the first plans to rebuild the grid already began in the concession areas of the three electricity distribution companies, including a call for tenders.
In a statement the CDEEE said energy group CEO Celso Marranzini and Kepco vice-president Jang Pyo Lee signed the contract, in the presence of Korea ambassador Dong Sil Park, and other Korea executives and officials.
Marranzini said the project to improve the grid with IDB and World Bank funds will reach RD$6.4 billion, and more than US$300 million in the next three years. "These are concrete, unprecedented facts in the electrical sector of the last few years and that leads to breaking the tradition of lack of investment that brought about enormous deterioration of the grids in previous years, a situation that is reflected in a fragile system which we are changing.”
From: United States, FREEPORT, Long Island.... (Look, beyond the words)
There was no lack of investments... There were tons of monies dumped into this country in the last two years, 500million USD went to pay the electrical companies, but vanished like a fart in the wind and the tab still stands...... Plus, we have government officials installing their own transformers to help distribute stolen electricity
From: Dominican Republic, Puerto Plata
I remember two attempts at the same endeavour.
One by Quebec's national power company (Hydro Québec) in the late 1980s, which aborted because Balaguer put a stop payment on a check in the millions.
Another one by Union Penosa, which ended up in a big mess, and the Madrid accords, and one of the biggest shafts the Dominican people ever had to take, brought to you by Hippoloco "Papa" Mejía.
Hope this ones with the Koreans works out.
From: United States
Well let's see what happens.
From: Dominican Republic, San Carlos, barrio de matatanes, aqui no invente
One of the suggestions brought up by the Koreans was the idea of setting up rabies infected pandas at the top of every electric pole with the intention to discourage Dominicans from stealing la luz.
word!
From: Dominican Republic
In a hurricane-prone, theft-prone country like the DR, putting these lines underground is a logical thing to do. The long term savings would be enormous. I hope this rebuild includes that.
From: United States
Election time is coming around!..
From: Dominican Republic
The only way to solve this problem, fire the directors and the minister, make them leave the country, and declare them PNG. Block all their bank-accounts first. Then we will not need Koreans, Canadians or Spaniards to rebuild the power grid.
(for who doesn´t know this expression, Persoana Non Grata, unwanted person.)
Written by: BASTA, 17 May 2011 12:38 PM
From: Dominican Republic, =Ghetto/Legalize Drugs
Another Photo-op I do I do and the electric service gets worse. Better yet anyone making more than 35,000 rd. send them to dig ditches. Shades of Mao.
Written by: Juango, 17 May 2011 1:31 PM
From: United States, far S. Florida (formerly Santo Domingo)
Hide your pets (dogs & cats) ! The Koreans are coming !
Am I missing something? Since this is funded with IDB and World Bank funds, should this project go out to and International Bid ? If it did not go out for bid, a few Dominican politicos are getting very rich on this contract !
From: United States
This is not going to change anything, the money will disapper in a couple years, at end a few politicians and contractors will be much wealthier, they will overbudget the project and take all the funds allocated to it...
From: Dominican Republic, Dominican Republic
The root problem of the country's electrical system is that , despite high rates, it does not generate enough income to produce enough electricity to satisfy the demand. That's why they have to have all the blackouts.
The reason there's not enough revenue is that half the power generated is stolen (by both rich and poor) and a good percentage of the money that is collected leaks away due to no-show jobs and other corruption.
Borrowing money to fix the grid is a bad idea unless the government is prepared to solve these problems first because how else will the income needed to pay off the loans be generated. If the basic problem of stealing by both users and officials is not corrected, this borrowing and spending will make things worse, not better.
Personally, I plan to install solar panels on my roof as soon as possible so I can go off grid.
From: Dominican Republic, Dominican Republic
But, of course, that not going to help the overall situation of the country much -- and it isn't an option for most people.
Written by: ateo2010 
, 17 May 2011 5:29 PM
From: Dominican Republic, Owning Noobs
a la 3ra la vencida.
From: Dominican Republic
Carpintero, It could solve the problem, if you buy a lot of them, and sell them with normal profit.
I will be your first costumer
Written by: Atabey, 17 May 2011 7:35 PM
From: United States, NYC
Carpintero,
++
From: Dominican Republic, Dominican Republic
A neighbor of mine has installed solar panels and promised to give me the name of the company in Santiago that installed them. I'll try to post it when I get it. I'm also looking into wind power but solar seems most practical, although initial costs are higher.
With the high rates in this country and the fact that many people already have inverters and battery banks, adding solar in a country with so much (free) sun seems like a no-brainer if you can afford the initial investment.
Too bad the government doesn't encourage this as is done in much of Europe and the United States. Maybe they figure the high rates here are enough of an incentive, but then hooking up some illegal wires is more cost effective since almost no one ever gets caught.
From: United States, words of wisdom from the nutcracker
thats quite of a investment 4 billion plus dollars to rebuilt the power lines , the only way they can solve the energy problem in dominican republic, is if they built those lines in space , that way no dominican can steal the power , but even then you will see a dominican wearing a spacesuit stealing a power line.
From: Dominican Republic, Dominican Republic
If more people were paying for their electricity they might expect it to be on all the time.
From: United States
what DR really needs are more stable jobs where our people can work longterm and consequently they can afford to support and raise their families..i mean starting your own business is great but i feel there are too many of the same businesses and not all are reliable..so what im getting at is..we wont be able to afford electricity 24/7 if many struggle to pay it now!
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One by Quebec's national power company (Hydro Québec) in the late 1980s, which aborted because Balaguer put a stop payment on a check in the millions.
Another one by Union Penosa, which ended up in a big mess, and the Madrid accords, and one of the biggest shafts the Dominican people ever had to take, brought to you by Hippoloco "Papa" Mejía.
Hope this ones with the Koreans works out.
word!
(for who doesn´t know this expression, Persoana Non Grata, unwanted person.)
Am I missing something? Since this is funded with IDB and World Bank funds, should this project go out to and International Bid ? If it did not go out for bid, a few Dominican politicos are getting very rich on this contract !
The reason there's not enough revenue is that half the power generated is stolen (by both rich and poor) and a good percentage of the money that is collected leaks away due to no-show jobs and other corruption.
Borrowing money to fix the grid is a bad idea unless the government is prepared to solve these problems first because how else will the income needed to pay off the loans be generated. If the basic problem of stealing by both users and officials is not corrected, this borrowing and spending will make things worse, not better.
Personally, I plan to install solar panels on my roof as soon as possible so I can go off grid.
I will be your first costumer
++
With the high rates in this country and the fact that many people already have inverters and battery banks, adding solar in a country with so much (free) sun seems like a no-brainer if you can afford the initial investment.
Too bad the government doesn't encourage this as is done in much of Europe and the United States. Maybe they figure the high rates here are enough of an incentive, but then hooking up some illegal wires is more cost effective since almost no one ever gets caught.