en.Wedoany.com Reported - TotalEnergies is considering selling a 50% stake in a portfolio of solar and wind assets located in Europe, a strategic move to operate through partnerships and monetize its clean energy portfolio. Bloomberg reported on Friday, citing sources familiar with the matter, that the French oil and gas giant is working with advisors to bring a 50% stake in a total of 1.2 gigawatts (GW) of solar and wind assets located in France, Germany, Spain, and Poland to the market. The sources said the deal could be worth several hundred million dollars for TotalEnergies.
Unlike other European energy majors such as BP and Shell, which have significantly scaled back renewable energy spending, TotalEnergies' long-term strategy targets a 12% return on its integrated power business. The company typically divests up to 50% of its renewable energy assets after they reach their commercial operation date (COD) and are de-risked, in order to "maximize asset value and manage risk."
In a recent large-scale stake sale, TotalEnergies agreed last year to sell a 50% stake in its North American solar project portfolio to global investment firm KKR in a deal valued at approximately $1 billion. This reflects the French giant's strategy of developing renewable energy by divesting half of its operational assets.
TotalEnergies has also moved to sign power purchase agreements (PPAs) to supply clean energy to large data center developers and hyperscale companies. In November, the company signed a 15-year PPA with Google to supply renewable energy from a local TotalEnergies solar farm to its data center in Ohio. That same month, TotalEnergies signed a 10-year PPA with data center developer Data4 to supply renewable energy to its facilities at a site in Spain. The French giant is leveraging data centers and artificial intelligence infrastructure, a major driver of global electricity demand, to fuel the growth of its integrated power business.
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