TotalEnergies boosts Caribbean renewables presence with AES partnership

Multinational

PARIS, July 2, 2025 – France’s TotalEnergies has acquired a 50% stake in AES Dominicana’s solar, wind and battery storage assets, expanding its Caribbean renewable energy portfolio to 1.5 GW, the company said on Wednesday.

The agreement builds on a 2024 transaction in which TotalEnergies purchased 30% of AES’s Puerto Rican renewables portfolio currently under construction.

The combined portfolio will generate 2.5 TWh of electricity per year and consists of over 1 GW of contracted capacity and more than 500 MW in development in the Dominican Republic, and 485 MW of solar and BESS projects in Puerto Rico.

“This partnership with AES… will contribute to our targets of 35 GW of gross renewable capacity by 2025 and over 100 TWh of electricity production by 2030,” TotalEnergies president of gas, renewables and power Stéphane Michel said.

TotalEnergies is active across the Caribbean energy sector with LNG supply, solar development, natural gas distribution, and a network of over 380 service stations between the Dominican Republic, Puerto Rico and St Thomas.

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