On September 29, 2025, TotalEnergies announced the sale of a 50% stake in its North American solar portfolio to investment firm KKR for $950 million.
The deal, which includes bank refinancing, covers a mix of solar assets across the United States.
Portfolio Details
The transaction involves six large-scale solar projects and 41 smaller distributed generation sites, with a total capacity of 1.4 gigawatts.
The portfolio’s enterprise value is set at $1.25 billion. TotalEnergies will retain a 50% stake and sell some of the electricity generated.
Strategic Expansion
Stephane Michel, TotalEnergies’ Gas, Renewables & Power President, said the partnership will drive growth in North America’s deregulated electricity market.
“This deal strengthens our position in the U.S. renewable sector,” he noted.
Why It Matters
The sale allows TotalEnergies to fund further renewable energy projects while sharing risks with KKR. It aligns with the company’s goal to expand clean energy in the competitive U.S. market.
Market Impact
The deal highlights the growing demand for solar energy in North America. By keeping a stake, TotalEnergies ensures steady revenue while leveraging KKR’s investment to scale operations.
Looking Ahead
This partnership positions TotalEnergies for broader renewable energy growth in 2025, reinforcing its role in the global shift to sustainable power.
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