St. Michael, Barbados, August 2011 – Portland Private Equity, a leading private equity fund management company, is pleased to announce the completion of the AIC Caribbean Fund’s fifth investment, an equity investment into InterEnergy Holdings Inc. (“IEH”).
IEH owns and operates power generation and distribution assets in Latin America and the Caribbean. IEH is one of the largest investors in the power sector of the Dominican Republic, with controlling positions in Consorcio Energético Punta Cana Macao S.A. (“CEPM”) and Compañía de Electricidad de San Pedro de Macorís (“CESPM”). In addition, InterEnergy indirectly holds the largest economic interest in Haina Investment Company, the private sector shareholder of Empresa Generadora de Electricidad Haina S.A. (“EGE Haina”). IEH’s asset portfolio represents more than 1,100 MW of combined installed capacity in the Dominican Republic, with another 215 MW under construction. IEH, through its predecessor, was also a pioneer in the use of renewable energy in the Dominican Republic, by establishing the first wind power complex in the country, a partnership between EGE Haina and CEPM with the Los Cocos and Quilvio Cabrera wind farms.
