Oct 1, 2025
TotalEnergies divests its share in a French renewable portfolio for $155 million.
French oil company TotalEnergies announced on Tuesday that it is selling a 50% interest in a 270 megawatt portfolio of wind and solar assets in France to Eiffel Investment Group. The deal values the entire portfolio at 265 million euros ($311.22 million), meaning Total will receive half of that amount for its stake.
TotalEnergies plans to increase its renewable energy portfolio from 26 gigawatts to 100 gigawatts by 2030, funding this growth by building wind and solar projects and selling minority stakes for cash. The company also aims to expand its gas business alongside its green energy efforts.
On Monday, CEO Patrick Pouyanne stated that Europe, Britain, the United States, and Brazil are key markets for future renewable growth. He also mentioned a $1 billion reduction in capital expenditures and the sale of renewable assets in other regions. Pouyanne indicated that multiple renewable asset sales are expected to close by the end of the year, potentially generating around $3.5 billion to offset approximately $3 billion in acquisitions made this year and help reduce debt.
TotalEnergies plans to increase its renewable energy portfolio from 26 gigawatts to 100 gigawatts by 2030, funding this growth by building wind and solar projects and selling minority stakes for cash. The company also aims to expand its gas business alongside its green energy efforts.
On Monday, CEO Patrick Pouyanne stated that Europe, Britain, the United States, and Brazil are key markets for future renewable growth. He also mentioned a $1 billion reduction in capital expenditures and the sale of renewable assets in other regions. Pouyanne indicated that multiple renewable asset sales are expected to close by the end of the year, potentially generating around $3.5 billion to offset approximately $3 billion in acquisitions made this year and help reduce debt.