TotalEnergies and AES expand Caribbean renewable partnership
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TotalEnergies has taken another decisive step toward becoming a leading multi-energy company by expanding its footprint in the Caribbean renewable energy market. The company recently acquired a 50 percent stake in AES Dominicana Renewables Energy’s portfolio, adding more than 800 megawatts of installed capacity to its regional operations. This acquisition aligns with TotalEnergies’ broader strategy of pivoting from fossil fuels to cleaner, more sustainable sources of energy.
The Caribbean’s energy landscape has long been dependent on imported fossil fuels. As island nations face mounting climate risks, the shift toward renewable sources has become more than a policy goal; it is an economic necessity. With this deal, TotalEnergies is positioning itself at the forefront of this transition, reinforcing its presence in fast-growing island economies and signaling its intent to scale renewable energy in regions where energy security is increasingly intertwined with sustainability.
The AES partnership strengthens TotalEnergies’ renewable portfolio
The AES partnership gives TotalEnergies a significant share in a diverse range of assets, including solar farms, wind projects and battery energy storage systems. The combined capacity under development and operation now surpasses 1 gigawatt, with solar energy accounting for a substantial share of the new capacity. Battery energy storage, which plays a vital role in balancing intermittent supply, forms an integral part of the portfolio.
AES has a strong history of deploying resilient energy infrastructure across the Caribbean. By sharing ownership, TotalEnergies benefits from a local partner deeply familiar with regional grid dynamics and regulatory environments. This is critical in markets where energy distribution remains fragmented and grid stability is a persistent challenge.
Building on existing operations to grow renewable capacity
TotalEnergies already operates a diverse energy portfolio across the Dominican Republic and Puerto Rico, including liquefied natural gas supply and service station networks. The addition of AES’s renewable assets will complement this infrastructure and enable a smoother transition to hybrid energy models.
One notable project under development is a 103 megawatt solar plant in the Dominican Republic, which will support the region’s growing electricity demand while reducing reliance on fuel imports. TotalEnergies’ existing operations in fuel distribution and LNG terminals provide the company with a platform to balance conventional and renewable supply, ensuring energy reliability during peak demand.
Implications for the Caribbean’s energy transition
This latest acquisition marks a milestone for the Caribbean’s push to diversify its energy mix. The region’s dependence on diesel and heavy fuel oil has left many island nations vulnerable to price shocks and supply chain disruptions. By investing in solar, wind and battery storage, TotalEnergies and AES are creating new pathways for stable and affordable electricity.
Local economies stand to benefit through job creation, technology transfer and increased resilience against climate impacts. Long-term power purchase agreements underpin these projects, providing governments and businesses with predictability and investors with confidence in future returns.
As island economies contend with limited land area and fragile ecosystems, scaling renewables demands innovative approaches. Partnerships like this one provide a model for balancing environmental stewardship with energy security. The success of TotalEnergies’ Caribbean expansion could inspire similar strategies in other island regions facing comparable energy and climate challenges. TotalEnergies has set clear targets to reach 35 gigawatts of renewable capacity by 2025 and 100 gigawatts by 2030.
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