Elsewhere, the Caribbean Community (Caricom) is pushing forward with its Caribbean Renewable Energy Development Project (CREDP), which seeks to remove barriers to the use of renewable energy. June 2003 marks the end of the first year of the CREDP's five year estimated duration, but the remaining four years actually going forward depends on the success of year one.
The Dominican Republic warrants special mention in this year's overview of Latin American wind power due to the number of projects on the table. The one most resembling firm intent rather than good intentions is a $16 million, 15 MW project belonging to the Punta Cana-Macao Energy Consortium (CEPM). Spain's Endesa owns 40% and Dominican group Basic Energy 60%. This combination of industrial weight with a local counterpart gives rise to realistic expectations that the project will reach financial close by its mid 2003 target. CEPM will buy the power for the isolated system it runs in the east of the island. Local connections also favour Basic Energy in a separate 100 MW project in the planning stage as this plant would sell power to thermoelectric generator Haina, whose chairman, Rolando Gonzalez Bunster, owns Basic Energy.