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TotalEnergies SE ( (FR:TTE) ) just unveiled an announcement.
TotalEnergies has completed the sale of 50% of its 270 MW wind and solar portfolio in France to Eiffel Investment Group, valuing the portfolio at €265 million. This strategic divestment aligns with TotalEnergies’ business model of maximizing asset value and managing risks by divesting up to 50% of its renewable assets upon reaching commercial operation. The transaction allows TotalEnergies to retain a 50% stake and operational control, while continuing to market most of the production, thereby reinforcing its position in the renewable energy sector.
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 a workforce of over 100,000 employees, the company is committed to providing energy that is more reliable, affordable, and sustainable. Operating in about 120 countries, TotalEnergies places sustainability at the core of its strategy, projects, and operations.
See more insights into TTE stock on TipRanks’ Stock Analysis page.