TotalEnergies has announced the sale of a 50 % stake in its North American solar portfolio to investment firm KKR, generating $950 million from the transaction, which also includes bank refinancing. The assets being sold consist of six utility‑scale solar facilities and 41 distributed‑generation sites, primarily located in the United States. The portfolio carries a total enterprise value of $1.25 billion and an installed capacity of 1.4 gigawatts.
TotalEnergies will retain the remaining 50 % stake and will continue to sell a portion of the electricity produced by these assets. The partnership with KKR is expected to help the company expand in the deregulated North American electricity market. According to Stéphane Michel, TotalEnergies’ President of Gas, Renewables & Power, the collaboration will support the group’s growth in the region.
The North American solar market has grown rapidly in recent years, driven by rising demand for renewable energy. TotalEnergies’ decision to sell part of its solar portfolio aligns with its strategy to optimise assets and focus on high‑growth areas. The company has been actively investing in renewable projects, including solar and wind, to reduce its carbon footprint and meet increasing energy needs.
The $950 million deal underscores the growing interest in renewable‑energy investments, particularly in North America. As the world shifts toward cleaner energy sources, companies like TotalEnergies are adapting their portfolios to meet changing demands. This transaction reinforces TotalEnergies’ commitment to expanding its presence in the renewable sector while generating significant revenue from the sale.
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