TotalEnergies has entered a partnership with KKR to sell a 50% stake in its 1.4 GW solar portfolio in North America, valuing the assets at $1.25 billion while enhancing both companies' renewable energy capabilities.

Target Information

TotalEnergies has entered into an agreement with KKR, a prominent global investment firm, to sell a 50% stake in a 1.4 GW solar portfolio located in North America. This transaction, which reflects TotalEnergies’ commitment to its renewables business model, establishes an enterprise value of $1.25 billion for the portfolio. Following the conclusion of this agreement and the ongoing bank refinancing, TotalEnergies is projected to receive approximately $950 million upon closing.

The deal encompasses six utility-scale solar projects, collectively producing 1.3 GW of power, along with 41 distributed generation assets that provide an additional 140 MW, predominantly in the United States. The electricity generated from these solar projects has either been sold to third parties or will be marketed by TotalEnergies itself.

Industry Overview in North America

The renewable energy sector in North America, particularly in the United States, is experiencing robust growth. With an increasing focus on sustainability and energy independence, the market for solar energy has expanded