Manzanillo LNG-to-power project in Dominican Republic secures over $1 billion in project financing and forms joint venture

Type: Financing · Technology: Gas · Country: Dominican Republic · Capacity: 840 MW · Value: $1B · Announced: 2026-08-26

The Manzanillo LNG-to-power project in the Dominican Republic secured over $1 billion in project financing, including $902.3 million in senior-secured limited-recourse project financing from a consortium of lenders. Citibank, JPMorgan Chase Bank, IDB Invest, and Corporación Andina de Fomento acted as mandated lead arrangers and senior lenders for the project. Paul Hastings advised the sponsors and borrower on the financing and a joint venture for the project, while White & Case advised the lenders. The project involves the design, development, construction, operation, and maintenance of two combined-cycle thermal power plants, each with an approximate net installed capacity of 420 megawatts, totaling 840 megawatts. Additionally, the project includes an LNG marine terminal, a jetty, a floating storage and regasification unit, and high-voltage transmission lines to inject electricity into the national grid, with construction completion targeted for 2028.

Analysis

The Manzanillo LNG-to-power project in the Dominican Republic has secured over $1 billion in project financing, including $902.3 million in senior-secured limited-recourse financing from Citibank, JPMorgan Chase Bank, IDB Invest, and Corporación Andina de Fomento. Paul Hastings advised the sponsors and borrower on the financing and a joint venture for the 840-megawatt project, which involves two combined-cycle thermal power plants and an LNG marine terminal. White & Case advised the lenders on the transaction, with construction completion targeted for 2028. The project will inject electricity into the national grid.

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