Spanish engineering company Global Dominion Access has completed the sale of six solar parks in the Dominican Republic for a value exceeding $375m.
The deal, signed with funds managed by Pioneer Funds and JMMB Funds and advised by GP Capital Partners SRL, solidifies the company’s new approach as a developer of sustainable energy infrastructure without majority ownership.
As part of the transaction, Dominion sold 80% of its ownership in the solar parks, while retaining the remaining 20% for the next three years. This is in order to consolidate its relationship with the new partners and continue contributing to future project development in the country.
The solar projects have a combined capacity of 321MWp and are subject to long-term power purchase agreements (PPAs) which are already in place.
Dominion said the transaction will generate a cash inflow of $102m, of which $82m will be received in 2025.
The divestment is part of the company’s strategic plan to position itself as a turnkey project enabler for independent power producers.
The company is focused on the design, execution, and delivery of solar and energy transition projects, without maintaining majority ownership over the long term.
Dominion said the sale marks a milestone in its portfolio simplification and asset optimisation strategy, allowing it to allocate resources to new opportunities in environmental services, decarbonisation, and circular economy.