TotalEnergies Sells Half of Greek Renewables Portfolio for €508 Million

TotalEnergies has closed the merchantability of a 50% involvement successful a 424-megawatt portfolio of upwind and star assets successful Greece to infrastructure capitalist Asterion Industrial Partners, successful a transaction that values the portfolio astatine €508 million, oregon astir €1.2 cardinal per megawatt installed.

The French vigor large volition clasp the remaining 50% involvement and proceed to run the assets. It volition besides offtake and marketplace astir of the energy generated erstwhile the projects exit Greece’s regulated tariff regime, preserving commercialized vulnerability to powerfulness prices portion recycling capital.

The woody aligns with TotalEnergies’ stated renewables strategy of divesting number stakes successful operating assets to crystallize value, negociate risk, and money further growth.

The transaction fits squarely wrong TotalEnergies’ integrated powerfulness concern model, which combines renewable generation—solar, onshore upwind and offshore wind—with flexible assets specified arsenic gas-fired powerfulness plants and vigor storage. The purpose is to present alleged “clean steadfast power” susceptible of gathering request adjacent erstwhile renewable output is intermittent.

Rather than afloat exiting projects, TotalEnergies has progressively opted to merchantability down up to 50% stakes successful renewable portfolios portion remaining operator. This attack allows the institution to support scale, method power and marketplace access, portion lowering superior strength and improving returns connected invested capital. Similar number divestments person go a defining diagnostic of the group’s renewables enlargement crossed Europe and different halfway markets.

Greece has emerged arsenic a strategical maturation marketplace for renewables developers, driven by beardown star and upwind resources, supportive argumentation frameworks, and rising powerfulness request linked to electrification and determination interconnections. As regulated tariffs expire, merchant vulnerability and semipermanent powerfulness selling capabilities—such arsenic those retained by TotalEnergies successful this deal—are becoming progressively important to task economics.

For Asterion Industrial Partners, the acquisition strengthens its vulnerability to European vigor infrastructure astatine a clip erstwhile organization superior continues to travel into operational renewable assets offering stable, semipermanent currency flows. Founded successful 2018, Asterion manages astir $10 cardinal and focuses connected mid-market infrastructure investments crossed energy, utilities, digital, and mobility sectors.

The transaction underscores however large lipid and state companies are reshaping their renewables portfolios to equilibrium maturation with fiscal discipline. By monetizing portion of its Greek portfolio portion retaining operational and commercialized roles, TotalEnergies reinforces its presumption arsenic some a renewable powerfulness shaper and an integrated energy marketplace player, alternatively than a axenic plus owner.