Squire advises Pioneer and JMMB Funds on 375M solar acquisition
Squire Patton Boggs has advised international funds Fondo de Inversión Cerrado de Desarrollo con Impacto Social Pioneer II and JMMB Fondo de Inversión Cerrado de Desarrollo de Sociedades de Energía Sostenible, both managed by GP Capital Partners, on the acquisition of an 80% stake in Dominion Energy’s photovoltaic portfolio in the Dominican Republic.
The portfolio comprises six solar parks with a total attributable capacity of 321 MWp. Following the transaction, Dominion Energy will retain a 20% minority stake in the projects, aiming to strengthen its partnership with the new investors and consolidate its presence in the local market.
The total value of the transaction exceeds USD $375 million, representing a price of approximately $1.17 million per megawatt peak (MWp).
Through this acquisition, Pioneer and JMMB reaffirm their commitment to developing projects with a strong economic, social, environmental, and sustainable impact.
“This deal strengthens our clients’ strategic positioning in the energy sector and represents a landmark transaction, being the largest in the Dominican market so far in 2025,” commented José Aguilar-Shea and Ramón Castilla, partners at Squire Patton Boggs who led the transaction.
The Squire Patton Boggs Madrid team included partners José Aguilar-Shea and Ramón Castilla, senior associate Laura Gómez, and associate Pablo Suárez.
On the picture, from left to right, José Aguilar-Shea, Ramón Castilla and Laura Gómez.
