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TotalEnergies to Sell 50% of Its North American Solar Assets
TotalEnergies will retain 50% and continue operations after selling half its 1.4 GW North American solar portfolio to KKR for $1.25 billion, boosting capital recycling.
- TotalEnergies has reached an agreement to transfer half of its 1.4 gigawatt solar assets in North America to the global investment company KKR.
- This sale is part of TotalEnergies' approach to regularly sell up to half of its renewable assets after they become operational and the associated risks have been minimized.
- The portfolio includes six utility-scale solar projects totaling 1.3 gigawatts and 41 distributed generation assets with 140 megawatts capacity, mainly in the United States.
- TotalEnergies will receive $950 million at closing, supported by transactions and bank refinancing, while maintaining a 50% stake and operational control over the assets.
- This transaction reinforces TotalEnergies' growth in North America’s deregulated electricity market and strengthens its Integrated Power business profitability.
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TotalEnergies launches savings plan, cuts capex after rising debt worries investors
TotalEnergies will cut its annual capital expenditure by $1 billion, it said on Monday, as the French oil major sought to soothe investor fears over slow asset sales and rising debt at a meeting with investors in New York.
·United Kingdom
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TotalEnergies to Sell 50% of Its North American Solar Assets
TotalEnergies has agreed to sell 50% of its solar projects portfolio in North America to global investment firm KKR for about $1 billion, as part of the French supermajor’s renewables strategy to divest half of its already operational assets. TotalEnergies is selling 50% of a portfolio of combined 1.4 gigawatts (GW) installed capacity in a transaction valuing said portfolio at $1.25 billion, the supermajor said on Monday. Thanks to the transacti…
·London, United Kingdom
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Coverage Details
Total News Sources24
Leaning Left2Leaning Right2Center4Last UpdatedBias Distribution50% Center
Bias Distribution
- 50% of the sources are Center
50% Center
L 25%
C 50%
R 25%
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