DOMINION, a global provider of sustainable energy solutions, has completed the sale of six solar parks in the Dominican Republic, with a combined capacity of 321 megawatts peak (MWp), for over $375 million. The transaction, finalized with funds managed by Pioneer Funds and JMMB Funds, and advised by GP Capital Partners. This move supports DOMINION’s strategy to advance sustainable energy infrastructure while retaining a minority ownership stake in the projects.

DOMINION has divested 80% of its ownership in the solar parks while retaining a 20% stake until 2027.

The agreement involves the divestment of 80% of DOMINION’s stake in the solar parks, with the company maintaining a 20% share until 2027. This arrangement fosters ongoing collaboration with the new investors and supports future renewable energy projects in the Dominican Republic. The solar parks are backed by long-term power purchase agreements (PPAs), ensuring their financial stability and operational continuity.

The sale is expected to generate a cash inflow of $102 million for DOMINION, with $82 million anticipated in 2025. This financial boost aligns with the company’s goal of optimizing its asset portfolio and redirecting resources toward new initiatives in environmental services, decarbonization, and the circular economy. “The transaction is a key milestone in our strategy for portfolio simplification and asset optimization,” a DOMINION spokesperson stated, emphasizing the company’s focus on sustainable growth.

Operating in over 35 countries with a workforce of 10,000 professionals, DOMINION integrates technology and engineering expertise to support global energy, industrial, and digital transitions. The sale strengthens the company’s role as a facilitator for independent power producers (IPPs), enabling it to develop turnkey projects that promote renewable energy. By maintaining a stake in the solar parks, DOMINION ensures continued involvement in the Dominican Republic’s renewable energy sector while fostering partnerships for future development.

The transaction underscores DOMINION’s commitment to advancing the global energy transition through collaborative frameworks. It enhances the company’s ability to invest in innovative solutions that address environmental challenges and promote sustainability. The sale of the solar parks, strategically located in the Dominican Republic, marks a significant step in DOMINION’s efforts to streamline its operations while contributing to the growth of renewable energy infrastructure worldwide.