TotalEnergies expands renewable energy presence in the Caribbean

New partnership with AES adds over 1.5 GW of solar, wind, and battery storage across the Dominican Republic and Puerto Rico.

TotalEnergies has strengthened its presence in the Caribbean energy market by acquiring a 50% stake in AES Dominicana Renewables Energy, expanding its partnership with AES from liquefied natural gas (LNG) to renewable power and battery storage. 

The deal builds on TotalEnergies' 2024 acquisition of a 30% stake in AES’ solar and battery storage portfolio under development in Puerto Rico. The combined portfolio now totals more than 1.5 gigawatts (GW) of wind, solar, and battery energy storage systems (BESS), with an expected annual output of 2.5 terawatt-hours (TWh) of renewable electricity.

The move expands TotalEnergies' renewables footprint in a country where it already operates a solarized fuel retail network of 184 service stations, distributes natural gas, and is constructing a 103 MW solar plant.

In Puerto Rico, where TotalEnergies holds a 30% share in AES’ 485 MW solar and storage portfolio, the company continues to grow its multi-energy strategy. The assets under construction include 200 MW of solar capacity and 285 MW/1,140 MWh of storage. TotalEnergies also operates 200 service stations across Puerto Rico and St. Thomas, and is active in fuels, lubricants, and aviation.

“These transactions reflect our ambition to integrate renewables into our broader energy strategy in the Caribbean. We are proud to build on our LNG leadership by scaling clean electricity production in partnership with AES,” said Stéphane Michel, President of Gas, Renewables & Power at TotalEnergies.

The partnership supports TotalEnergies' global goal of reaching 35 GW of gross renewable capacity by 2025 and producing over 100 TWh of electricity annually by 2030.