GAM buys equity stake in Dominican Republic wind project

GAM Capital's closed-end fund, GAM Energía, has acquired an equity stake in Akuo Energy Dominicana, owner of the 50MW Parques Eolicos del Caribea wind farm located in El Copey, in the Dominican Republic's northwestern province of Monte Cristi. The 25-turbine park became operational in June 2019. GAM Energía now joins Akuo Energy and Siemens Financial Services as a partner in the project. The project is financed by the IFC, with the support from the IFC-Canada Climate Change Program, Proparco, FMO and DEG.