Totalenergies Scales Up Clean Energy In The Caribbean With AES Deal

2025-07-02 09:05:45

(MENAFN- Trend News Agency) BAKU, Azerbaijan, July 2. TotalEnergies has completed the acquisition of a 50% stake in the solar, wind, and battery energy storage systems (BESS) portfolio of AES Dominicana Renewables Energy, Trend reports.

The portfolio includes over 1 GW of contracted renewable energy projects in the Dominican Republic, with 410 MW already operational or under construction under long-term Power Purchase Agreements (PPAs), and more than 500 MW of additional capacity in development.

This transaction expands TotalEnergies' renewables footprint in the Caribbean, where the company is already active in fuel distribution, natural gas, and solar power. In the Dominican Republic, TotalEnergies operates a partially solarized network of 184 service stations and is currently building a 103 MW solar plant.

The acquisition follows TotalEnergies' 2024 purchase of a 30% stake in AES' solar and BESS assets in Puerto Rico, which includes 200 MW of solar and 285 MW/1,140 MWh of BESS projects under construction. Combined, the company now holds over 1.5 GW of renewable and storage capacity across the Caribbean.

The move is part of TotalEnergies' broader strategy to expand its multi-energy operations globally, aiming for 35 GW of gross renewable capacity by 2025 and over 100 TWh of electricity production by 2030.

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