The moves are part of TotalEnergies' efforts to optimize capital allocation. (Source: Shutterstock)
TotalEnergies has completed the sale of a 50% stake in its 604-megawatt (MW) renewable energy portfolio in Portugal to a consortium for 178.5 million euros (US$210.4 million), it said July 2.
The Paris-based energy company said it will retain the remaining 50% stake and operatorship.
The portfolio, which was sold to the consortium of MM Capital Partners 2 Co. Ltd., Daiwa Energy & Infrastructure Co. Ltd and Mizuho Leasing Co., is comprised of wind, solar and hydro assets.
“In line with our strategy, this transaction allows us to optimize our capital allocation in our integrated electricity activities and contribute to improving the sector’s profitability,” said Olivier Jouny, senior vice president of renewables at TotalEnergies.
In a separate news release, TotalEnergies said it acquired a 50% stake in the solar, wind and battery energy storage systems (BESS) portfolio of AES Dominicana Renewables Energy. The AES portfolio includes 200 MW of solar and 285 MW/1,140 megawatt-hours of BESS projects under construction.
The AES deal follows TotalEnergies’ 2024 acquisition of a 30% share in AES solar and battery assets under construction in Puerto Rico. It also brings the company’s portfolio of renewable energy and BESS assets across the Caribbean to more than 1.5 gigawatts.
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