Spain's Global Dominion mulls adding partner to renewables unit

Spanish engineering services company Global Dominion Access SA (BME:DOM) has hired Swiss investment bank Mirabaud to help beef up the financial structure of its renewables division, saying the process may include taking on a minority partner.

Said division, alongside its affiliate Bas Projects Corporation SL, provides full-scope development, construction and O&M services for the renewable energy sector and manages a portfolio of own assets.

The duo had a hand in building wind, solar, hydro and biomass-fired plants in Europe, Latin America and Asia.

In a securities filing on Tuesday, Dominion said its ambition to become an independent power producer (IPP) in the clean energy space and grow the renewables business is part of the 2019-2023 strategic plan.

Founded in 2016, the dedicated renewables division has a “diversified pipeline” of projects surpassing 1 GW spanning Spain, Italy, Portugal, Mexico, Argentina and the Dominican Republic, Dominion said.

Of this capacity, close to 100 MW of projects are already under construction and are scheduled to become operation in 2021. The remaining projects are planned to come online in 2021-2025.

Mirabaud’s mandate will be to explore different avenues for strengthening Dominion's renewables and Bas Corporation, the company said.

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