TotalEnergies has entered into an agreement to sell 50 percent of a 1.4 GW solar portfolio in North America.
The transaction values the portfolio at an enterprise value of $1.25 billion. A press release states that TotalEnergies will receive a total of $950 million, equivalent to approximately six billion kroner, when the deal closes.
The transaction covers six large solar projects of 1.3 GW and 41 smaller plants of 140 MW in the United States. TotalEnergies will retain half of the assets and continue operations after closing.
- In line with our strategy, this transaction unlocks value from newly constructed assets and further strengthens the profitability of our Integrated Power business, says Stéphane Michel, President for Gas, Renewables & Power at TotalEnergies.
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