TotalEnergies has closed the sale to Asterion Industrial Partners of 50 per cent of its 424 MW wind and solar portfolio in Greece.

This transaction values the portfolio at €508 million ($595 million), equivalent to approximately €1.2 million ($1.4 million) per MW installed.

TotalEnergies retains a 50 per cent stake and remains the operator of the assets.

Besides, TotalEnergies will offtake and market most of the electricity produced by these assets when they stop benefiting from the regulated tariffs.

TotalEnergies is building a competitive portfolio that combines renewables (solar, onshore wind, offshore wind) and flexible assets (CCGT, storage) to deliver clean firm power to its customers.

To achieve its profitability objectives and share risks, TotalEnergies divests up to 50 per cent of its interests in renewable assets, enabling the company to maximise the value of its portfolio.

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