French energy major TotalEnergies has completed the sale of a 50% stake in its 424-megawatt wind and solar portfolio in Greece to infrastructure investor Asterion Industrial Partners, the company said.
The transaction values the portfolio at 508 million euros, or about 1.2 million euros per megawatt of installed capacity. TotalEnergies will retain the remaining 50% stake and continue to operate the assets, according to the company.
Under the agreement, TotalEnergies will also offtake and market most of the electricity generated by the projects once they are no longer covered by regulated tariff schemes.
The company said the deal supports its integrated power strategy, which combines renewable generation with flexible assets to provide firm power. It added that selling minority stakes in renewable assets allows it to optimise portfolio value while sharing investment risk.
“This transaction aligns with our integrated power business model,” TotalEnergies said in a statement.
Asterion Industrial Partners is an independent investment manager focused on mid-market infrastructure investments across Europe, with exposure to energy, digital, utilities and mobility sectors.
TotalEnergies operates across the global energy value chain and has made sustainability a central element of its long-term strategy.
