Dominion Sells Six Solar Parks in Dominican Republic for Over USD 375 Million

Spanish engineering company Global Dominion Access has completed a divestment by selling six solar parks in the Dominican Republic for over USD 375 million. The transaction, finalised with investment funds managed by Pioneer Funds and JMMB Funds and advised by GP Capital Partners SRL, marks a milestone in the company’s shift toward a non-ownership model in renewable energy development.

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The sold assets have a total installed capacity of 321 megawatts peak (MWp) and are backed by long-term power purchase agreements (PPAs). As part of the deal, DOMINION will receive a cash inflow of USD 102 million, with USD 82 million expected in 2025.

Transition to a Developer-Only Business Model

The company’s official statement notes that this sale is a key step in Dominion’s strategy to focus on designing and executing turnkey renewable energy and energy transition projects for Independent Power Producers (IPPs), without retaining majority ownership. 

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As part of this shift, the company has sold 80 percent of its interest in the solar parks, while holding onto the remaining 20 percent for a three-year period. With this minority stake, Dominion will maintain strategic alignment with its partners and support future project development in the country, the statement read.

Focus on Asset Optimization and Sustainability

The transaction also reflects Dominion’s broader portfolio simplification and resource optimisation strategy. The company aims to channel capital towards high-impact areas such as environmental services, decarbonisation, and the circular economy.

The firm has a presence in over 35 countries, with a workforce of more than 10,000 professionals, The sale of these solar assets underscores its commitment to enabling the global energy transition through collaborative and technology-driven solutions.