TotalEnergies will sell a 50% stake in its North American solar asset portfolio for $950 million.

On September 29th, TotalEnergies announced that it has signed an agreement with private equity giant KKR to sell 50% of its 1.4 gigawatt solar investment portfolio in North America. TotalEnergies stated that the transaction is in line with its renewable energy business model, and through this deal and the ongoing refinancing with banks, the company will receive a total of $950 million at closing. After the transaction is completed, TotalEnergies will retain a 50% stake in the assets and continue to be responsible for operations.