TotalEnergies sold 50% of the Greek renewables portfolio to TotalEnergies for 254 millions euros
By America Hernandez
PARIS, December 17 - TotalEnergies, the French oil major, has agreed to sell 50% of its 424 megawatt portfolio of Greek wind and solar assets to Asterion Industrial Partners of Spain for 254 millions euros ($297.36million), according to an announcement made on Wednesday.
It said that the deal valued the portfolio at 508 million euros or approximately 1.2 millions euros per megawatt installed.
TotalEnergies has 32 gigawatts (gigawatts) of installed renewable capacity in the world, far ahead of the other oil majors. However, it relies heavily on the practice of selling minority stakes in wind and solar farms that have already been built to increase returns. These assets earn fixed tariffs set by governments for the electricity they produce in many markets.
The French company will retain a 50% stake and continue to run the Greek assets. The statement states that it plans to "market and sell" most of the power once the regulated tariffs have expired.
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After a series of acquisitions, the company's debt-to equity ratio more than doubled in the first half 2025.
(source: Reuters)
