TotalEnergies Divests Stake in European Renewable Assets to KKR
The energy giant is selling a 50% interest in its onshore solar and wind portfolio to the private equity firm.
TotalEnergies has agreed to sell a 50% stake in its European onshore solar and wind power generation assets to private equity firm KKR, according to a company statement.
This transaction involves a significant portion of TotalEnergies' renewable energy portfolio in Europe. The divestment signals a strategic shift for the energy company as it continues to rebalance its asset base and invest in new energy projects. KKR, a global investment firm, has been actively increasing its presence in the renewable energy sector, making this acquisition a key addition to its portfolio.
While the specifics of the financial terms were not immediately disclosed, the deal is expected to be finalized in the coming months, subject to customary closing conditions. TotalEnergies will retain the remaining 50% stake in the assets, indicating a continued partnership and shared interest in the future development and operation of these renewable energy sources.