Located in the Northwest province of Montecristi, the power project is expected to cost $800m, which will be supported through private funds.
NEC is a subsidiary of Southern California Telephone & Energy (SCT&E).
SCT&E said the Dominican Republic will not incur any financial expense other than paying for the electricity it uses.
Most of the equipment planned to be used on the natural gas-fired plant and project will be manufactured in America as part of the free trade agreement between the US and Dominican Republic.
The MOU will include natural gas-supply contracts based on NYMEX prices, not only to power the plant, but also to meet the CDEEE’s needs to convert its oil-based Energy Park.
