SUBSCRIBE
PROFILE

TotalEnergies acquires 1.5 GW of AES renewable assets in the Caribbean

TotalEnergies acquires 50% of AES' renewable portfolio in the Dominican Republic following a previous purchase of 30% of similar assets in Puerto Rico, consolidating 1.5 GW of solar, wind, and battery storage capacities in the Caribbean.

Share:

Gain full professional access to energynews.pro from 4.90€/month.
Designed for decision-makers, with no long-term commitment.

Over 30,000 articles published since 2021.
150 new market analyses every week to decode global energy trends.

Monthly Digital PRO PASS

Immediate Access
4.90€/month*

No commitment – cancel anytime, activation in 2 minutes.

START NOW — 4.90€/month

*Special launch offer: 1st month at the indicated price, then 14.90 €/month, no long-term commitment.

Annual Digital PRO Pass

Full Annual Access
99€/year*

To access all of energynews.pro without any limits

SUBSCRIBE — 99€/year

*Introductory annual price for year one, automatically renewed at 149.00 €/year from the second year.

Sign up for free to unlock this article

TotalEnergies has finalized the acquisition of 50% of the renewable energy production portfolio of AES Dominicana Renewables Energy in the Dominican Republic. This transaction follows a similar operation carried out in 2024, when TotalEnergies took a 30% stake in AES Corporation’s renewable projects in Puerto Rico. The combined assets of both transactions represent a cumulative installed capacity exceeding 1.5 gigawatts (GW), including solar plants, wind farms, and Battery Energy Storage Systems (BESS). This capacity is expected to enable annual production of 2.5 terawatt-hours (TWh) of renewable electricity.

Details of assets in the Dominican Republic

In the Dominican Republic, the renewable portfolio concerned totals over 1 GW of projects, of which approximately 410 megawatts (MW) are already operational or under construction. These assets primarily include wind and solar power plants, coupled with BESS systems intended to stabilize electricity supply. Production from these plants benefits from long-term Power Purchase Agreements (PPAs).

Additionally, more than 500 MW of further renewable and energy storage capacities are currently under development in the country. TotalEnergies already operates a network of 184 service stations there, some partially equipped with solar panels, as well as an additional 103 MW solar plant under construction.

Strategic participation in Puerto Rico

In Puerto Rico, TotalEnergies previously acquired a minority 30% share in a 485 MW portfolio of solar and BESS capacities currently under construction. These projects include 200 MW of solar power plants linked to PPAs and 285 MW of BESS systems representing a total storage capacity of 1,140 megawatt-hours (MWh). This participation strengthens TotalEnergies’ presence on the island, where the company owns a network of around 200 service stations distributed between Puerto Rico and the island of Saint-Thomas, as well as activities in fuels, lubricants, and aviation sectors.

Expansion of partnership between TotalEnergies and AES

This double asset transfer confirms the expansion of the strategic partnership between TotalEnergies and AES Corporation, historically focused on liquefied natural gas (LNG) supply. Since 2018, TotalEnergies has been supplying LNG to AES subsidiaries in Panama and the Dominican Republic, primarily for electricity production.

TotalEnergies targets a global renewable energy capacity of 35 GW by 2025, with an announced ambition to produce more than 100 TWh of low-carbon electricity annually by 2030. AES, for its part, plans to reinvest the funds from this transaction into its own local renewable assets, according to Juan Ignacio Rubiolo, Executive Vice President of AES.

  • Popular on energynews.pro
Hydrogen Valleys: the Clean Hydrogen Partnership selects 36 European applications
Pemex approves partial debt buyback totalling $9.9bn
Iberdrola adds 708 MW of solar capacity to joint venture with Norges Bank
Technip Energies secures two major contracts for Ecoplanta methanol plant in Spain
EDF power solutions and El Paso Electric launch 150 MW solar facility in New Mexico
CPP Investments injects $1 billion into AlphaGen to support AI-driven energy growth
The Canadian pension fund takes a strategic minority stake in AlphaGen, a 11 GW U.S. power portfolio, to address rising electricity demand from data centres and artificial intelligence.
BlackRock and Canada Pension Plan finalise $6.2bn Allete buyout with Minnesota approval
Minnesota’s public regulator has approved the $6.2bn acquisition of energy group Allete by BlackRock and the Canada Pension Plan, following adjustments aimed at addressing rate concerns.
Clariant targeted by BP and ExxonMobil in ethylene case
The Swiss chemical group faces two new lawsuits filed in Germany, bringing the total compensation claims from oil and chemical companies to over €3.5bn ($3.7bn) in the ethylene collusion case.
Statkraft sells its district heating business for NOK3.6bn to Nordic consortium
Statkraft continues its strategic shift by selling its district heating unit to Patrizia SE and Nordic Infrastructure AG for NOK3.6bn ($331mn). The deal will free up capital for hydropower, wind, solar and battery investments.
Petronas Gas separates regulated and non-regulated activities in major reorganisation
Petronas Gas restructures its operations by transferring regulated and non-regulated segments into separate subsidiaries, following government approval to improve transparency and optimise the group’s investment management.
Marubeni creates power trading joint venture with SmartestEnergy in Japan
Marubeni Corporation has formed a power trading unit in joint venture with UK-based SmartestEnergy, targeting expansion in Japan’s fast-changing deregulated market.
Exxon to cut up to 500 jobs in Singapore as part of global restructuring
Exxon Mobil plans to reduce its Singapore workforce by 10% to 15% by 2027 and relocate its offices to the Jurong industrial site, as part of a strategic investment shift.
Phoenix Energy begins trading preferred shares on NYSE American under PHXE.P
Phoenix Energy raised $54.08mn through a preferred stock offering now listed as PHXE.P on NYSE American, with an initial dividend scheduled for mid-October.
TotalEnergies cuts investments while accelerating energy production
TotalEnergies plans to increase its energy production by 4% annually until 2030, while reducing global investments by $7.5bn amid what it describes as an uncertain economic environment.
Occidental in talks to sell OxyChem in a $10bn deal
Occidental Petroleum is considering selling its chemical subsidiary OxyChem for $10bn, a transaction that forms part of its deleveraging strategy launched after several major acquisitions.
ABO Energy considers operating its own wind and solar parks
ABO Energy is assessing a shift to independent power production by operating its own renewable parks, signalling a major strategic move in a market that has become more favourable.
Fortescue forges global industrial alliances to electrify its mining operations
Fortescue accelerates the decarbonisation of its operations by leveraging an international network of technology and industrial partners, targeting net zero at its mining sites by 2030.
MET Group takes full control of Slovak subsidiary and enters Albania
Swiss energy company MET strengthens its footprint in Central and Southeast Europe with the full acquisition of MET Slovakia and the launch of a new operational subsidiary in Albania.
Gresham House acquires SUSI Partners to become a leading European energy player
UK-based Gresham House will acquire Swiss investment manager SUSI Partners, strengthening its international footprint in energy transition infrastructure.
Spruce Power cuts jobs and closes Denver office to save $20mn annually
Spruce Power launches an internal reorganisation aimed at reducing annual operating costs by $20mn, with the closure of its Denver office and a refocus on key initiatives to strengthen profitability.
TotalEnergies adjusts share buybacks and strengthens employee shareholding for 2026
TotalEnergies’ Board of Directors is adjusting its shareholder return strategy while consolidating its multi-energy growth and employee shareholding plan amid an uncertain energy and geopolitical landscape.
Fermi America signs two energy deals with Siemens Energy for 2 GW in 2026
Fermi America has signed two letters of intent with Siemens Energy to supply an additional 1.1 GW of gas turbines and collaborate on nuclear steam turbines as part of its 11 GW private energy campus dedicated to artificial intelligence.
Aker invests $285mn in Nscale and acquires 9.3% equity stake
Aker becomes one of Nscale’s largest shareholders following a $1.1bn funding round, reinforcing its exposure to large-scale artificial intelligence infrastructure.
TenneT secures equity funding for Germany via three European investors
TenneT Holding has reached an agreement with APG, GIC and NBIM to finance the expansion of the German high-voltage grid, securing its capital needs for the coming years.
Iberdrola plans €58 billion investment to boost growth by 2028
Iberdrola plans to invest EUR58bn ($61.83bn) by 2028, targeting a net profit of EUR7.6bn ($8.10bn), focusing on power grids and key markets such as the United Kingdom and the United States.