Bladex and Scotiabank close a US$100 million loan for EGE Haina to support the expansion of renewable energy in the Dominican Republic, advancing the country’s energy transition.
 |
| Bladex and Scotiabank’s US$100M syndicated loan supports EGE Haina's renewable energy projects in the Dominican Republic, advancing the nation’s green energy goals. Image: Warren Bonilla |
Panama city, Panama — March 14, 2025:
Banco Latinoamericano de Comercio Exterior, S.A. (Bladex) and The Bank of Nova Scotia (Scotiabank) have successfully completed the syndication of a US$100 million loan for Empresa Generadora de Electricidad Haina (EGE Haina), marking a pivotal step in the advancement of renewable energy projects in the Dominican Republic.
This loan will enable EGE Haina to expand its renewable energy assets, supporting the company’s broader growth strategy and aligning with the Dominican Republic’s national objective of increasing the share of renewable energy in the country’s energy matrix.
Jorge Salas, CEO of Bladex, remarked, “This financing reinforces our commitment to supporting sustainable infrastructure development in the region. We are proud to partner with Scotiabank and help EGE Haina achieve its energy transition goals, delivering cleaner, more efficient energy solutions for the Dominican Republic.”
Gonzalo Gil, CEO of Scotiabank Dominican Republic, emphasized, “Scotiabank’s focus is on helping our clients grow sustainably. Our continued partnership with Bladex and support for EGE Haina highlights our commitment to the Dominican Republic’s energy transformation and economic development.”
The completion of this loan solidifies the longstanding collaboration between EGE Haina, Bladex, and Scotiabank, underscoring the critical role of financial institutions in driving sustainable growth across Latin America. The syndication further highlights the growing importance of green financing solutions in the region.
Rodrigo Varillas, Senior Finance Director at EGE Haina, added, “Renewable energy generation is a cornerstone of our growth strategy. This financing aligns with our goal to anchor our operations in sustainable capital structures. We are grateful for the support from Bladex and Scotiabank as we continue to lead in the transition to greener energy solutions.”
EGE Haina is one of the leading companies in the Dominican Republic’s renewable energy sector, with a diverse portfolio that includes wind farms, solar plants, and thermal generation. The new financing adheres to the Green Loan Principles (GLP) set forth by the Loan Market Association (LMA) and the Loan Syndications and Trading Association (LSTA). This strategic partnership will enhance the company’s role in the decarbonization of the electricity sector and strengthen energy security in the Dominican Republic.
As EGE Haina continues to expand its renewable energy generation capabilities, the US$100 million loan marks a significant milestone in the company’s ongoing efforts to support sustainable energy practices in the Caribbean and Latin America.