TotalEnergies has decided to sell 50 per cent of a 1.4 GW solar portfolio, worth $1.25 billion, in North America. The company will receive a total of $950 million at closing.

The transaction covers six utility-scale solar assets with a combined capacity of 1.3 GW, and 41 distributed generation assets totalling 140 MW, primarily situated in the US. TotalEnergies will keep a 50 per cent stake in the assets and continue to operate them after the closing of this transaction, which is subject to customary conditions.