LCV Ecoener Solares Dominicana, S.R.L. (FMO-65182)

Countries
  • Dominican Republic
Geographic location where the impacts of the investment may be experienced.
Specific Location
María Trinidad Sánches
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • Netherlands Development Finance Company (FMO)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Sectors
  • Energy
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 10.37 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Loan Amount (USD)
$ 10.37 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Project Cost (USD)
$ 10.37 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ FMO website

Updated in EWS Feb 20, 2026

Disclosed by Bank Aug 1, 2025

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to the FMO, the FMO financing consists of USD 27.5 million in long-term senior debt, used to finance the Payita project, a two-phase 120 MW solar photovoltaic project (+15MW BESS) under the same SPV, located on two adjacent plots of land in María Trinidad Sánches, in the northeast of the Dominican Republic. Phase I of the project consists of a 60 MWp solar photovoltaic installation, and its construction was completed in 2025. Phase II consists of another 60 MWp photovoltaic installation and 15 MW of battery storage. The project also includes a 40m connection to the existing 138kV line between Rio San Juan and Nagua. The Payita debt financing totals USD 110 million. FMO provides a committed USD 10.37 million for Phase I and USD 10.87 million for Phase II, and an additional uncommitted USD 6.26 million to be potentially added for Phase II. FMO also mobilised a total of USD 13.8 million through the SDG Loan Fund participation in the transaction.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

According to the FMO, LCV Ecoener Solares Dominicana S.R.L. (the “Borrower”) is a Dominican Special Purpose Vehicle (SPV) owned 100% by Grupo Ecoener S.A. (Ecoener Group or the “Group”). Ecoener Group is a growing Spanish renewable energy developer and investor, listed on the Spanish stock exchange since 2021, and majority-owned (71%) by its founder and president, Luis de Valdivia, a Spanish entrepreneur with over 37 years of experience in renewable energy. As of January 2026, the company has a portfolio of 815 MW of renewable energy in operation and construction and has an additional 2,089 MW in development. It operates in several markets, including Spain, Colombia, Honduras, Guatemala, Panama, and the Dominican Republic, and is expanding to Canada, Poland, Italy, Romania, and Greece. In the Dominican Republic, the company has several projects, including Cumayasa I&II (96.5 MWp solar in operation), Cumayasa IV (62 MWp solar in construction), Payita I (60 MWp solar), and several other projects in development.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - LCV Ecoener Solares Dominicana S.R.L. Client -

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

ACCESS TO INFORMATION

As part of FMO's ex-ante disclosure (disclosure of transactions before contracting), you can send requests or questions for additional information to: disclosure@fmo.nl

ACCOUNTABILITY MECHANISM OF FMO

Communities who believe they will be negatively affected by a project funded by the Dutch Development Bank (FMO) may be able to file a complaint with the Independent Complaints Mechanism, which is the joint independent accountability mechanism of the Dutch Development Bank (FMO) and the German Investment Corporation (KfW). A complaint can be filed in writing, by email, post, or online. The complaint can be filed in English or any other language of the complainant. The Independent Complaints Mechanism is comprised of a three-member Independent Expert Panel and it can provide either problem-solving, compliance review or both, in either order. Additional information about this accountability mechanism, including a guide and template for filing a complaint, can be found at: https://www.fmo.nl/independent-complaints-mechanism

How it works

How it works