InterEnergy’s collaboration with Bank of America and the multilateral will scale renewable energy and infrastructure solutions in Small Island Developing States in the Caribbean

Bank of America has approved a landmark green loan for InterEnergy Group’s subsidiary, CEPM, to accelerate its “CEPM Zero” initiative. The financing supports the transition of Dominican Republic-based utilities to 100% renewable energy generation by 2030.

Key Investor Takeaways:

• Structured Finance: BofA serves as the sole structuring agent for this “first of its kind” multi-asset, multi-jurisdictional warehouse financing facility.
• Decarbonization Targets: The loan funds solar, wind, biomass, green hydrogen, and battery storage assets to replace fossil fuel dependency in the Small Island Developing States (SIDS).
• Market Impact: CEPM currently powers 65% of the Dominican Republic’s national tourism sector. This transition provides a “proof of concept” for scalable blended finance models in emerging markets.

related article: Bank of America Awards UCF Grant to Increase Hispanic and Latino Health Care Graduates

The “CEPM Zero” Strategy: A 2030 Roadmap

InterEnergy’s commitment to achieving Net Zero by 2030 through its subsidiary, CEPM, is a high-stakes transition that serves as a global blueprint for Small Island Developing States (SIDS).

1. Portfolio Diversification

The “CEPM Zero” initiative is moving away from a fossil-fuel-heavy mix toward a fully integrated renewable ecosystem. This includes:

• Solar & Wind Expansion: Construction of over 200 MW of solar projects in the eastern Dominican Republic to harness the region’s high irradiance.
• Green Hydrogen & Biomass: Exploring cutting-edge “firm” power sources to ensure grid stability without relying on natural gas or fuel oil.

2. Infrastructure & Storage

Because renewable energy is intermittent, InterEnergy is a regional leader in Battery Energy Storage Systems (BESS). By integrating large-scale storage, they can provide 24/7 “dispatchable” clean energy, which is critical for the Dominican Republic’s multi-billion dollar tourism industry.

3. E-Mobility Leadership

Readability and technical innovation meet in their “Evergo” network. Before the end of 2024, InterEnergy will inaugurate the Caribbean’s first major electric vehicle (EV) charging hub, effectively decarbonizing the transport sector alongside the power grid.

Strategic Alignment

This collaboration originated from the Sustainable Markets Initiative, founded by King Charles III. It represents a critical shift in global banking towards providing emerging markets with the capital necessary to meet Net Zero carbon emissions goals while maintaining regional energy security.See

Subscribe to ESG News’ Daily ESG Newsletter | Follow us on LinkedIn

ESG News Editorial Team

The ESG News Editorial Team is comprised of veteran financial journalists and sustainability analysts dedicated to providing real-time, objective reporting on global ESG regulations, climate finance, and corporate governance. Our desk monitors daily developments from the SEC, IFRS, CSRD and international regulatory bodies to ensure our 1M+ readers receive accurate, data-driven insights into the evolving sustainable investment landscape. Follow the ESG News Editorial Team for expert reporting on global sustainability standards, ESG disclosures, and climate policy. Access over 10,000 investigative reports and real-time updates.