In line with its renewable energy business model, TotalEnergies says it has finalised the sale to Asterion Industrial Partners of 50% of its 424 MW portfolio of wind and solar projects located in Greece.
This transaction values the portfolio at €508 million, or approximately €1.2 million per MW installed.
TotalEnergies retains a 50% stake and remains the operator of the assets. Furthermore, TotalEnergies will purchase and market the majority of the electricity produced by these assets once they are no longer eligible for regulated tariffs.
TotalEnergies’ business model in electricity
TotalEnergies is building a competitive portfolio combining renewable (solar, onshore wind, offshore wind) and flexible (CCGT, storage) assets to provide its customers with low-carbon electricity available 24/7.
To achieve its profitability objectives and share the risks, TotalEnergies sells up to 50% of its interests in renewable assets, thus allowing the Company to maximise the value of its portfolio.