TotalEnergies has acquired a 50% stake in AES' renewable energy portfolio in the Dominican Republic, enhancing its commitment to sustainable energy and expanding its multi-energy strategy across the Caribbean.

Information on the Target

TotalEnergies has successfully acquired a 50% stake in the renewable energy portfolio of AES Dominicana Renewables Energy. This strategic acquisition comes on the heels of TotalEnergies' previous investment in 2024, when it obtained a 30% share in AES' renewable assets in Puerto Rico. The combined capacity of these investments exceeds 1.5 GW, enabling the generation of about 2.5 TWh of renewable electricity annually across the Caribbean.

AES Dominicana's renewables portfolio comprises more than 1 GW of contracted projects, which include wind, solar, and Battery Energy Storage Systems (BESS). Currently, 410 MW of this capacity is either operational or under construction, with these projects backed by long-term Power Purchase Agreements (PPAs). Additionally, the portfolio encompasses over 500 MW of solar and wind capacity that is in various stages of development, aiming to enhance grid stability and manage intermittency through integrated BESS solutions.

Industry Overview in the Dominican Republic

The Dominican Republic is experiencing a significant shift towards renewable energy, driven by increasing demand for sustainable and reliable energy sources. The government has set ambitious targets for rene