AES Corporation announced a strategic alliance with Grupo Linda and the Popular Investment Fund Administrator (AFI Popular). The two leading Dominican business groups are now partners in AES Dominicana through one of the funds managed by AFI Popular, the Grupo Popular financial group subsidiary.
The transactions include selling 10% of the shares for operations in AES Dominican Republic to the local groups Linda (5%) and AFI Popular (5%), respectively. Grupo Linda is purchasing 20% of the AES Colón energy complex owned by AES Corporation.
The acquisition of 5% by AFI Popular will be made effective through the participation of the Popular Closed Fund for the Development of Companies, Sivfic-042, a member of the Dominican Stock Market since 2019.
Since 2014, AES launched a long-term strategy to incorporate local partners that support the expansion and strengthening plan of the businesses and accompany the growth of the energy industry, both here and in Panama, with a sustainability vision.
“We gain immense value by partnering with strong local players who provide valuable support as we transition our businesses in both markets,” said Juan Ignacio Rubiolo, executive vice president and president of the AES Energy Infrastructure Strategic Business Unit. “We have enjoyed a productive partnership with Grupo Linda since 2014, and we look forward to collaborating closely with AFI Popular as we continue to identify new sources of value.”
The president of Grupo Linda, engineer Félix García stated that “the signing of this agreement further strengthens the AES-Linda partnership that began in 2014 with the purchase of 5% of AES Dominicana. In 2017, we acquired an additional 5%, and in 2021, we purchased all of the shares of AES Dominicana in the Itabo Electricity Generating Company. Today, we announce that we have reached 15% of AES Dominicana and acquired 20% of the shares of AES Colón.”
The acquisition of 20% of AES Colón by Grupo Linda includes a 381-megawatt combined cycle generator with an adjacent regasification facility that has a 180,000 m3 storage tank.
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AES Dominicana
28 September 2023