BlackRock-led consortium to acquire AES, key player in Dominican energy sector

Santo Domingo.- A consortium led by Global Infrastructure Partners, a subsidiary of BlackRock, together with Sweden’s EQT and other institutional investors, has agreed to acquire AES Corporation for US$10.7 billion in equity, in a transaction that values the company at approximately US$33.4 billion including debt. The deal, priced at US$15 per share, represents a 40.3% premium over the recent average share price and is expected to close between late 2026 and early 2027, pending regulatory approvals.

The acquisition comes amid rising electricity demand in the United States, driven in part by the projected expansion of data centers. AES currently has 32.1 GW of generation capacity worldwide—64% renewable—and reported US$12.3 billion in revenue in 2024. Company executives said privatization would provide greater financial flexibility to meet capital needs and fund future growth, particularly in power generation and utilities.

For the Dominican Republic, the transaction is especially significant. AES maintains a strong presence in the national electricity system through its subsidiary AES Dominicana, which operates key generation and gas infrastructure. Among its main assets is the AES Andrés power plant, one of the country’s principal natural gas facilities, along with the liquefied natural gas (LNG) terminal in Boca Chica, a strategic component of the Dominican energy matrix. The company also participates in the Eastern gas pipeline and in the Los Mina and Itabo power plants, the latter operated in partnership with the State.

In the Dominican Republic, AES Dominicana manages approximately 392.5 MW of solar, 52.5 MW of wind, 11 MW of storage, and 319 MW of natural gas-fired generation, while developing an additional 572 MW of renewable capacity and a 138.1 MW battery energy storage system (BESS) project. This positions the company as a central player in the country’s energy diversification and transition efforts.

Although the sale does not imply immediate operational changes, the entry of financially powerful global investors could influence future energy infrastructure investments in the Dominican Republic, at a time when electricity demand continues to grow and renewable expansion remains a national priority.