TotalEnergies Expands Caribbean Renewable Energy Partnership with AES
Why we think this is neutral
This RNS announcement details TotalEnergies' expansion of its partnership with AES in the Caribbean renewable energy sector, including the acquisition of stakes in AES' renewable portfolios in the Dominican Republic and Puerto Rico. While this represents strategic growth for TotalEnergies, the announcement does not contain any specific financial figures or trading updates that would warrant a more positive sentiment score.
Key Points
- TotalEnergies expands its long-standing LNG partnership with AES to include renewable energy and battery storage in the Caribbean
- Acquires 50% stake in AES' 1 GW renewable energy portfolio in the Dominican Republic
- Previously acquired 30% stake in AES' 485 MW renewable and battery storage projects in Puerto Rico
Summary
TotalEnergies has acquired a 50% stake in AES' renewable energy portfolio in the Dominican Republic, which includes over 1 GW of contracted wind, solar, and battery energy storage projects. The company also previously acquired a 30% stake in AES' 485 MW of solar and battery storage projects under construction in Puerto Rico. These transactions align with TotalEnergies' strategy to build a competitive portfolio of renewable electricity generation capacity.