REG-TotalEnergies SE Caribbean: TotalEnergies Expands its Partnership with AES from LNG to Renewable Energy

TotalEnergies SEAnnouncement

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Caribbean: TotalEnergies Expands its Partnership with AES from LNG to
Renewable Energy


 * TotalEnergies expands its long-standing LNG partnership with AES on renewable
and battery storage in the Caribbean

 * TotalEnergies has purchased 50% of AES renewable portfolio in the Dominican
Republic, following a previous acquisition of 30% in AES’ Puerto Rican
assets

 * The combined 1.5 GW portfolio will produce 2.5 TWh/y of renewable electricity

 

TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) announces the closing of its
acquisition of a 50% stake in the solar, wind and Battery Energy Storage
Systems (BESS) portfolio of AES Dominicana Renewables Energy. This deal
follows TotalEnergies’ 2024 acquisition of a 30% share in AES solar and
battery assets currently under construction in Puerto Rico. The combined
portfolio now exceeds 1.5 GW of renewable energy and BESS capacity across the
Caribbean.

These transactions advance TotalEnergies' multi-energy strategy in a region
where it is a key player in the liquefied natural gas (LNG) value chain.

Dominican Republic: TotalEnergies acquires 50% of AES renewables portfolio

AES’ renewables portfolio includes over 1 GW of contracted wind, solar, and
BESS projects, of which 410 MW is already operational or under construction,
supplying electricity under long-term Power Purchase Agreements (PPAs). The
portfolio also includes over 500 MW of solar and wind capacity in development,
alongside BESS projects, which will be integrated into solar plants to
mitigate intermittency and enhance grid stability.

This acquisition will allow TotalEnergies to expand its renewables business in
the Dominican Republic, where the Company already has a partially solarized
network of 184 service stations, natural gas distribution and a 103 MW solar
plant under construction.

Puerto Rico: TotalEnergies already holds 30% of a portfolio of AES renewables

The AES’ renewables portfolio includes 485 MW of contracted solar and BESS
projects, comprising 200 MW of solar and 285 MW/1,140 MWh of BESS projects
currently under construction.

After acquiring 30% of these assets in 2024, TotalEnergies is pursuing
deployment of its multi-energy strategy on the island, where it is already
active in the fuel, lubricants, and aviation sectors, and operates a network
of 200 service stations between Puerto Rico and the island of St Thomas.

“We are pleased to expand our multi-energy strategy through this partnership
with AES, focusing on renewables and battery storage in a region where
TotalEnergies is already a leading supplier of LNG, notably for power
generation. Since 2018, we have been supplying LNG to AES’s subsidiaries in
Panama and the Dominican Republic”, said Stéphane Michel, President of Gas,
Renewables & Power at TotalEnergies. “These new transactions will
contribute to our targets of 35 GW of gross renewable capacity by 2025 and
over 100 TWh of electricity production by 2030.”

“We are excited to join forces with TotalEnergies as we diversify the
island’s energy mix. The proceeds from this transaction will be reinvested
in AES Dominicana, to grow our renewables footprint”, said Juan Ignacio
Rubiolo, AES Executive Vice President & President, Energy Infrastructure
and Leader of International Markets.

TotalEnergies and electricity

TotalEnergies is building a competitive portfolio that combines renewables
(solar, onshore wind, offshore wind) and flexible assets (CCGT, storage) to
deliver clean firm power to its customers. As of the end of March 2025,
TotalEnergies has 28 GW of installed gross renewable electricity generation
capacity and aims to reach 35 GW by the end of 2025, and more than 100 TWh of
net electricity production by 2030.

About TotalEnergies

TotalEnergies is a global integrated energy company that produces and markets
energies: oil and biofuels, natural gas, biogas and low-carbon hydrogen,
renewables and electricity. Our more than 100,000 employees are committed to
providing as many people as possible with energy that is more reliable, more
affordable and more sustainable. Active in about 120 countries, TotalEnergies
places sustainability at the heart of its strategy, its projects and its
operations.

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Cautionary Note

The terms “TotalEnergies”, “TotalEnergies company” or “Company” in
this document are used to designate TotalEnergies SE and the consolidated
entities that are directly or indirectly controlled by TotalEnergies SE.
Likewise, the words “we”, “us” and “our” may also be used to refer
to these entities or to their employees. The entities in which TotalEnergies
SE directly or indirectly owns a shareholding are separate legal entities.
This document may contain forward-looking information and statements that are
based on a number of economic data and assumptions made in a given economic,
competitive and regulatory environment. They may prove to be inaccurate in the
future and are subject to a number of risk factors. Neither TotalEnergies SE
nor any of its subsidiaries assumes any obligation to update publicly any
forward-looking information or statement, objectives or trends contained in
this document whether as a result of new information, future events or
otherwise. Information concerning risk factors, that may affect
TotalEnergies’ financial results or activities is provided in the most
recent Universal Registration Document, the French-language version of which
is filed by TotalEnergies SE with the French securities regulator Autorité
des Marchés Financiers (AMF), and in the Form 20-F filed with the United
States Securities and Exchange Commission (SEC).

TotalEnergies Contacts 

Media Relations: +33 (0)1 47 44 46 99 l presse@totalenergies.com
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Investor Relations: +33 (0)1 47 44 46 46 l ir@totalenergies.com
(mailto:ir@totalenergies.com)



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