Santo Domingo, Dominican Republic – The law firm Jiménez Peña announces the successful closing of a significant transaction in which it acted as local legal counsel to Proparco, DEG, and FMO in the refinancing of the Payita 1 Solar Photovoltaic Park and the financing of the Payita 2 Solar Photovoltaic Park, developed by LCV Ecoener Solares Dominican, S.R.L. in Nagua, María Trinidad Sánchez province.

Payita 1, with an installed capacity of 60.93 MWp, is already operational and supplying energy to the National Interconnected Electric System (SENI). Its original financing, led by Proparco, was closed by the firm in December 2024.

Payita 2, for its part, adds 60 MWp of capacity and 15 MW of storage, completing—together with Payita 1—a strategic photovoltaic complex whose substation will serve both units. Currently in the final stage of construction, the project is particularly noteworthy for having secured financing without a Power Purchase Agreement (PPA). Once operational, it will dispatch energy to the spot market while participating in the ongoing renewable energy tender process.

The combined financing for both parks amounts to US$110 million, consolidating a key investment for the expansion of renewable generation and the strengthening of the country’s energy security.

Leadership of the Jiménez Peña Team

The transaction was led by Partner Jennifer Beauchamps, with the dedicated collaboration of Director Fátima Veras, Senior Associates Melissa Bueno and Víctor Santana, and Associates María Gabriela and José Velázquez.

The team’s combined expertise in energy, project finance, and security structures was instrumental in mitigating complex risks and securing a successful outcome that not only strengthens the firm’s practice but also sets a significant precedent in the Dominican energy sector