PARIS - TotalEnergies (EPA:TTEF) (Paris:TTE) (LSE:TTE) (NYSE:TTE) has completed the sale of a 50% stake in its 604 MW Portuguese renewable energy portfolio to a consortium for €178.5 million, the company announced Wednesday.

The transaction, which values the entire portfolio at €550 million, involves wind, solar, and hydroelectric assets with an average age of 16 years. The buying consortium consists of MM Capital Partners 2 Co., Ltd, Daiwa Energy & Infrastructure Co. Ltd, and Mizuho Leasing Co., Ltd.

TotalEnergies will retain the remaining 50% stake and continue to operate the assets. The company will also purchase and commercialize the production from these facilities once their regulated tariffs expire.

"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, according to the press release.

The deal aligns with TotalEnergies’ renewables business model, which combines various energy sources including solar, onshore and offshore wind, along with flexible assets like combined cycle gas turbines and storage.

As of March 2025, TotalEnergies reports 28 GW of installed gross renewable electricity generation capacity. The company aims to reach 35 GW by the end of 2025 and more than 100 TWh of net electricity production by 2030.

TotalEnergies operates in approximately 120 countries with more than 100,000 employees worldwide, according to information provided in the company statement.

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