TotalEnergies is restructuring its US solar portfolio with a major private equity partner. (Reuters)
The French energy major will sell 50% of 1.4 GW in solar assets—six utility-scale projects and 41 distributed generation sites—to private equity firm KKR in a deal worth $950M, with the overall portfolio valued at $1.25B.
TotalEnergies will keep the other half of the portfolio and continue selling part of the power output, giving it both cash in hand and ongoing exposure to the projects.