Dominion divests 80% of Dominican 321-MWp solar portfolio

• Dominion sells 80 % of six Dominican solar plants (321 MWp) to Pioneer and JMMB funds for >USD 375 m, keeping 20 % stake and netting USD 102 m in cash.

Spanish engineering group Global Dominion Access SA has agreed to sell an 80 % stake in six Dominican Republic solar farms (totaling about 321 MWp) to a consortium of local investment vehicles managed by Pioneer Funds and JMMB Funds. The deal was disclosed in a filing to Spain’s CNMV on 21 July 2025. 

The transaction values the portfolio at more than USD 375 million and will deliver roughly USD 102 million in net cash to Dominion—USD 82 million this year and the balance as deferred consideration—while the company retains a 20 % position for at least three years to support the new owners. 

Project line-up & status

All plants carry long-term PPAs priced near USD 100/MWh, implying an enterprise value of about USD 1.17 million per MWp. 

Dominion says the sale aligns with its “develop-and-rotate” model—monetising mature renewables to recycle capital into new projects worldwide. News of the disposal boosted the firm’s share price by almost 10 % on the Madrid exchange to around EUR 3.60.