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TotalEnergies SE ( (FR:TTE) ) just unveiled an update.
TotalEnergies has entered into an agreement with KKR to sell 50% of its 1.4 GW solar portfolio in North America, valuing the portfolio at $1.25 billion. This strategic partnership aligns with TotalEnergies’ business model to enhance profitability by divesting up to 50% of its renewable assets once they reach commercial operation. The transaction, which includes six utility-scale solar assets and 41 distributed generation assets, will allow TotalEnergies to receive $950 million at closing and continue operating the assets. This move strengthens TotalEnergies’ position in the North American renewable energy market and supports its goal of delivering clean, firm power to customers.
More about TotalEnergies SE
TotalEnergies is a global integrated energy company that produces and markets a diverse range of energies, including oil, biofuels, natural gas, biogas, low-carbon hydrogen, renewables, and electricity. With over 100,000 employees, the company is committed to providing reliable, affordable, and sustainable energy solutions. Operating in approximately 120 countries, TotalEnergies emphasizes sustainability in its strategy, projects, and operations.
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