Santo Domingo.- The Dominican Republic, through the Ministry of Energy and Mines (MEM), signed a collaboration agreement with the International Renewable Energy Agency (IRENA) to accelerate clean energy development and support the global goal of tripling renewable generation capacity by 2030.
The letter of intent, signed by Energy and Mines Minister Joel Santos and IRENA Director-General Francesco La Camera, launches the Alliance for the Acceleration of Renewable Energies in Latin America and the Caribbean (PARLAC). The initiative was presented during the High-Level Global Forum on Energy Transition.
Santos reaffirmed the Dominican Republic’s commitment to diversifying its energy mix, expanding renewable sources, reducing dependence on fossil fuels and strengthening energy security. He stressed that achieving the 2030 target will require greater investment, stronger electricity grids, energy storage, expanded electrification and access to new technologies in developing economies.
La Camera said clean electrification can transform developing economies but requires increased financing, appropriate regulations and the removal of barriers to implementation. IRENA will support knowledge exchange and national initiatives aimed at increasing investment, infrastructure and resilience across Latin America and the Caribbean.
Betty Soto, Vice Minister of Innovation and Energy Transition, emphasized the need for regional cooperation that accounts for the different challenges facing each country, particularly Caribbean nations dealing with imported fuel dependence, extreme weather risks, limited land and grid capacity, and high capital costs.
PARLAC aims to turn global renewable energy commitments into concrete regional actions through cooperation, political engagement and investment mobilization, contributing to the goal of tripling installed renewable generation capacity worldwide by 2030.