Bladex Participates in the Largest Renewable Energy Financing in the Caribbean

Bladex (NYSE: BLX) announced its participation as the leading lender in a US$425 million financing granted to AES Dominicana Renewable Energy, S.A. (ADRE), aimed at refinancing and strengthening a portfolio of six renewable energy plants in the Dominican Republic: five solar facilities and one wind farm. ADRE is the renewable energy division resulting from the alliance between AES Dominicana and TotalEnergies Renewables S.A.S.

The financing involved the participation of six leading banks from Panama and the Dominican Republic, with Bladex being the institution with the largest individual contribution, consolidating its role in the development of sustainable infrastructure in the region.

All six plants are already 100% operational and generating clean energy, strengthening the resilience and capacity of the Dominican electric system to meet the country’s growing energy demand.

Additionally, a portion of the funds will be used to complement four of these plants with battery energy storage systems, enabling greater stability, efficiency, and reliability of the electric grid. This financing represents the largest renewable energy loan granted in the Caribbean.

"The transaction marks a milestone for the region and reaffirms Bladex’s commitment to sustainability, the energy transition, and the strengthening of critical infrastructure. “Projects like this drive long-term economic, environmental, and social value creation for our countries,” said Samuel Canineu, Executive Vice President of Business at Bladex.

 

For his part, Edwin De los Santos, CEO of ADRE and President of AES in the Dominican Republic, highlighted that “this agreement consolidates AES Dominicana’s leadership in renewable energy. At AES, we are committed to advancing the energy transition while always ensuring the development of reliable, secure, and flexible electric systems. The confidence shown by Bladex and the regional banking community is a clear demonstration of the strength of our portfolio and the positive impact these plants are already generating for the country.”

 

Bladex had previously participated in financing the original construction of these renewable plants, supporting AES Dominicana from the early stages of development of this strategic portfolio. In 2023, the bank acted as arranger and lender in two transactions totaling US$160 million, aimed at refinancing and strengthening the group’s solar and wind projects. These included a US$40 million equity loan to AES Spain, as well as an additional US$120 million financing, split equally between Bladex and Banco Popular. These transactions laid the groundwork for the growth and consolidation of AES Dominicana’s clean generation platform.

With this new transaction, Bladex reaffirms its role as a strategic financial partner for projects that contribute to energy security, environmental sustainability, and the economic development of the region.