DOMINION seeks to respond to the growth of energy demand worldwide and become a relevant IPP (Independent Power Producer) in the clean energy sector. This operation responds to its 2019-23 strategic plan. As part of it, DOMINION will double its net profit and will accelerate the growth of its of renewable energy projects business (among others).
Since 2016 DOMINION runs a division dedicated to the development, construction, operation and maintenance of renewable energy infrastructures. The division has already achieved a solid and diversified pipeline of projects of more than 1 GW, distributed in countries where the company is already present, mainly in Europe (Spain, Italy and Portugal) and Latin America (Mexico, Dominican Republic and Argentina).
Out of this 1GW pipeline, close to 100 MW are already under construction and will come into operation in 2021 and approximately 950 MW are expected to come into operation throughout its 2021-2025 work plan.
In this context, DOMINION plans to strengthen the financial structure of its division and its associate BAS, the company that completes its comprehensive offer as an independent producer by providing the financial solution and the ownership of the assets in operation.
To this end, the technological company has hired the Swiss bank Mirabaud to explore different alternatives, including the eventual incorporation of a minority partner, in order to promote their value enhancement strategy.