RD acquires six photovoltaic parks from a Spanish company

Bilbao.- The company Dominion, based in Bilbao (northern Spain), agreed to the sale of six photovoltaic parks in the Dominican Republic to investment funds managed by Pioneer Funds and JMMB Funds Sociedades Administradoras de Fondos de Inversión (SAFI’s). In a statement, the services and projects company announced this Monday that the transaction involves the sale of 80% of the property. The remaining 20% will be retained by Dominion for three years with the aim of “strengthening” its relationship with the new partner and consolidating its position for the development of the future ‘pipeline’ in the country.

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The valuation of 100% of the six photovoltaic parks amounts to approximately 375 million dollars, as specified in the note. The sale of 80% represents a cash inflow for the company of $102 million, of which $82 million will be realized during this fiscal year 2025. The rest will be at a deferred price. The divestment operation of these assets does not have a significant impact on the group’s results, according to the statement, and represents “a key step in the company’s simplification strategy, as well as a strengthening of the financial position”. The closing of the transaction will occur once the usual conditions linked to institutional and financier approvals have been met.