TotalEnergies Grows Caribbean Presence With AES Renewable Partnership

TotalEnergies SE TTE announced the closing of its acquisition of a 50% stake in the solar, wind and Battery Energy Storage Systems (“BESS”) portfolio of AES Corporation’s AES subsidiary AES Dominicana Renewables Energy.Key Details of the AcquisitionWith over 1 gigawatt (GW) of contracted wind, solar, and BESS projects—410 megawatt (MW) of which are currently active or under construction—AES' renewables portfolio provides electricity through long-term power purchase agreements. Along with more than 500 MW of solar and wind power under development, the portfolio also includes BESS projects that will be incorporated into solar plants to improve grid stability and reduce intermittency.Through this acquisition, TotalEnergies will be able to expand its renewables business in the Dominican Republic, where it currently has a 103 MW solar project under development, a largely solarized network of 184 service stations and natural gas distribution.Growing Partnership Between TTE and AESThe recent transaction comes after TotalEnergies purchased a 30% stake in AES solar and battery assets, which are currently being built in Puerto Rico since 2024. The Caribbean region's total renewable energy and BESS capacity now exceeds 1.5 GW.The AES’ renewables portfolio includes 485 MW of contracted solar and BESS projects, comprising 200 MW of solar and 285 MW/1,140 MWh of BESS projects currently under construction.Through this collaboration with AES, TTE aims to broaden its multi-energy approach, concentrating on battery storage and renewable energy in an area where TotalEnergies is already a top provider of liquefied natural gas (“LNG”), particularly for power generation. TTE has been providing LNG to AES' subsidiaries in Panama and the Dominican Republic since 2018.Other Energy Companies’ Focus on RenewablesTo reach net zero by 2050, TTE is developing a world-class, cost-competitive portfolio that combines flexible assets, such as combined-cycle gas turbines and storage, with renewable energy sources, including solar, onshore, and offshore wind. The idea is to provide clean, reliable electricity to its customers. As of the end of March 2025, TotalEnergies’ gross renewable electricity generation installed capacity was 28 GW. These new transactions will contribute to TTE’s targets of 35 GW of gross renewable capacity by 2025 and over 100 terawatt-hours of electricity production by 2030.Other Companies’ Focus on Clean EnergyOther companies such as BP plc BP and Equinor ASA EQNR are also focused on clean energy operations.  BP is significantly focusing on renewable operations as part of its broader transition to lower-carbon energy. Its renewable energy goals include reaching 50 GW of generating capacity by 2030, developing wind and solar energy, and investing in hydrogen and carbon capture.BP’s long-term (three to five years) earnings growth rate is 6.78%. The Zacks Consensus Estimate for 2025 sales indicates a year-over-year increase of 20.6%.By focusing on disciplined, value-driven growth in key markets, EQNR has built a gigawatt-scale renewable energy portfolio and project pipeline, with 7 GW of capacity installed or under development (2024) and aims to reach 10-12 GW by 2030.EQNR’s long-term earnings growth rate is 11.56%. The Zacks Consensus Estimate for 2025 sales indicates a year-over-year increase of 5.2%.TTE Stock’s Price PerformanceIn the past month, shares of TotalEnergies have risen 7.5% compared with the industry’s 7% growth.     Image Source: Zacks Investment ResearchTTE’s Zacks RankThe company currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. 5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in the coming year. While not all picks can be winners, previous recommendations have soared +112%, +171%, +209% and +232%.Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.Today, See These 5 Potential Home Runs >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report BP p.l.c. (BP): Free Stock Analysis Report The AES Corporation (AES): Free Stock Analysis Report Equinor ASA (EQNR): Free Stock Analysis Report TotalEnergies SE Sponsored ADR (TTE): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks