DOMINION has completed the sale of six solar parks with a combined capacity of 321 megawatts peak (MWp) in the Dominican Republic for more than $375m.
The agreement, finalised with funds managed by Pioneer Funds and JMMB Funds, and advised by GP Capital Partners, strengthens the company’s strategy to develop sustainable energy infrastructure while maintaining a minority ownership stake.
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The assets sold by the company are secured by long-term power purchase agreements (PPAs).
The transaction is expected to yield a cash inflow of $102m, with $82m anticipated to be received in 2025.
DOMINION’s divestment aligns with its vision to establish itself as a turnkey project facilitator for independent power producers (IPPs).
As part of the deal, the company has divested 80% of its stake in the solar parks while retaining the remaining 20% until 2027.
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By GlobalDataThis arrangement is aimed at strengthening its partnership with the new investors and ensure ongoing contributions to future project development in the country.
The sale represents a key milestone in the company’s strategy for portfolio simplification and asset optimisation, enabling it to redirect resources toward new opportunities in environmental services, decarbonisation and the circular economy.
The transaction also strengthens DOMINION’s commitment to the energy transition worldwide, facilitating the growth of renewable energy through collaborative frameworks.
With operations spanning more than 35 countries and employing 10,000 professionals, DOMINION supports sustainability through solutions that integrate technology, engineering expertise and environmental ethos.
The company provides 360 projects and sustainable services and contributes to the energy, industrial and digital transitions.
