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Investing.com -- TotalEnergies (EPA:TTEF) SE is reportedly planning to sell a 50% stake in a substantial portfolio of renewable assets in the US, and is also contemplating a similar stake sale in a smaller group of solar farms located in Spain, according to Bloomberg, citing sources familiar with the matter.
The US assets that are being considered for sale might be slightly less in size compared to the 2 gigawatts of solar and battery storage systems that the French energy titan sold to funds managed by Apollo Global Management (NYSE:APO) Inc. This deal, which occurred in December of last year, was valued at $800 million.
According to Total ’s most recent financial report, the company had 2.5 gigawatts of net installed solar capacity in North America at the end of the first quarter. Additionally, it had about 800 megawatts of onshore wind capacity.
In Spain, TotalEnergies is preparing to divest a 50% stake in nearly 300 megawatts of recently constructed solar farms. The company is also considering building more photovoltaic facilities in Spain if investors show more interest in a larger package of assets.
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