Objective: To provide energy services while addressing the challenge of global warming and to reduce 400,000 tons of carbon dioxide per year; ultimately, to promote development and environmental protection.

Commitment: To build two wind energy power plants in the Dominican Republic totaling 109 megawatts for a total investment of over $130 Million.

Background: The Dominican Republic has excellent opportunities for clean energy development and investment. President Fernandez spoke about his goals to attract this type of investment and has shown true leadership in this area.

This project will promote economic development and environmental protection in the Dominican Republic through the construction of two wind energy power plants, totaling 109 megawatts for a total investment of over $130 million.

Update:
March 2006:
Consorcio Energetico Punta Cana Macao S.A., a subsidiary of Basic Energy Ltd. has signed a $23 million loan with the International Finance Corporation, (IFC) to install a 15 MW wind farm in the eastern tip of the Dominican Republic. The project is currently under construction and will be operational in November of this year. It will generate over 4 million kwh's per month and save $5 million per year in fuel and avoid 80,000 tons of CO2 emissions.

Basic Energy is in the final stages of the development and has requested supplier bids for a 100 MW wind farm near the Haitian border in western Dominican Republic. Such a project would save $33 million in fuel per year and avoid the emission of 500,000 tons of CO2. The project will cost $120 million and will be financed by a consortium of European banks, Danida and US Eximbank.