Clifford Chance advises TotalEnergies on strategic acquisition of 50% stake in AES Renewable portfolio

Global law firm Clifford Chance has advised TotalEnergies on the expansion of its strategic partnership with AES in the Caribbean through the acquisition of a 50% stake in the solar, wind and battery energy storage systems portfolio of AES Dominicana Renewables Energy. This transaction supports TotalEnergies’ multi-energy strategy in a region where it is already a supplier of liquefied natural gas, particularly for power generation.

The acquisition brings TotalEnergies’ combined portfolio in the region to 1.5 GW, expected to generate 2.5 TWh per year of renewable electricity.

Lead partner Thais Garcia said, "We are proud to support TotalEnergies on this partnership. This transaction underscores both the depth of our client partnership and our broad experience in navigating complex, cross-border energy transactions."

Thais Garcia was supported by counsel Joshua Bernard and associate Emely Luna. The multi-disciplinary, multi-jurisdiction team also included:

• Corporate (M&A): associates Pablo Hernandez, Jimena Garrote, Jose Jordana de Pozas (Madrid) and Esmée Zuidema-Oldenkamp (Amsterdam), and foreign law clerk Franca Stafforini (New York)
• Finance: counsel Alberto Haito (Washington, DC)
• Antitrust: partner Katrin Schallenberg and associate Salome Haddou (Paris)

Clifford Chance advises on numerous energy-focused transactions in the Americas and globally, including  the financing for a solar and battery energy storage project in California, TotalEnergies E&P USA, Inc. on its stake in dry gas producing assets in Texas, Eni on its US$1 billion sale of Alaska oilfield assets, and TRP Energy in its asset exchange transaction with Diamondback Energy.