In line with its renewables business model, TotalEnergies announces the completion of the sale of 50% of its 604 MW wind, solar and hydro portfolio in Portugal to the Consortium composed of MM Capital Partners 2 Co., Ltd., Daiwa Energy & Infrastructure and Mizuho Leasing for a consideration of 178,5 million euros, equivalent to an enterprise value of €550 m.
Following this transaction, TotalEnergies will retain a 50% stake and continue to operate the assets. Additionally, once the regulated tariffs they benefit from expire, TotalEnergies will purchase the production of these assets, which have an average age of 16 years, and will handle their commercialization.
We are pleased with this partnership in Portugal, a country where TotalEnergies intends to continue its development in renewables. In line with our strategy, this transaction allows us to optimize our capital allocation in our integrated electricity activities and contribute to improving the sector’s profitability, said Olivier Jouny, SVP Renewables at TotalEnergies
TotalEnergies and electricity
TotalEnergies is building a competitive portfolio that combines renewables (solar, onshore wind, offshore wind) and flexible assets (CCGT, storage) to deliver clean firm power to its customers. As of the end of March 2025, TotalEnergies has 28 GW of installed gross renewable electricity generation capacity and aims to reach 35 GW by the end of 2025, and more than 100 TWh of net electricity production by 2030.
Source: cyprusshippingnews.com
