In a move underscoring its capital recycling strategy, TotalEnergies has announced the sale of a 50% stake in a 270-megawatt (MW) portfolio of French wind and solar projects to Eiffel Investment Group, valuing the entire portfolio at €265 million ($311 million). The deal, which gives TotalEnergies proceeds of roughly $155 million, reflects the company’s model of developing renewable assets and divesting partial ownerships to reinvest in new growth opportunities.

Expanding the Renewable Energy Footprint

TotalEnergies’ renewable energy portfolio currently stands at 26 gigawatts (GW), with an ambitious target of reaching 100 GW by 2030. The company’s strategy involves developing large-scale solar and wind projects globally and selling minority stakes to institutional investors to recycle capital, maintain balance sheet flexibility, and support new developments. Through this model, TotalEnergies positions itself as both a project developer and a long-term operator, balancing profitability with its energy transition objectives. The new partnership with Eiffel Investment Group highlights the growing investor appetite for mature renewable portfolios offering stable, long-term yields.

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Global Strategy and Market Focus

Speaking on Monday, TotalEnergies CEO Patrick Pouyanné reaffirmed that the company’s renewables growth will be concentrated in Europe, the United Kingdom, the United States, and Brazil, markets offering robust policy support and scalable project opportunities. Pouyanné also noted that the company is rebalancing its capital allocation by trimming its annual capital expenditure by $1 billion and selling select renewable assets worldwide to strengthen liquidity. The proceeds are expected to fund additional clean energy projects and offset the $3 billion in acquisitions made so far this year.

“We have several renewables transactions set to close before the end of the year, expected to generate around $3.5 billion,” Pouyanné said. “This capital rotation ensures we can continue expanding our low-carbon portfolio while maintaining financial discipline.”

Balancing Renewables and Gas

While TotalEnergies continues to scale up its renewable capacity, it also plans to expand its natural gas business as a transition fuel to ensure energy security amid fluctuating global demand. The company views gas as a bridge in the decarbonization pathway, enabling a gradual shift toward cleaner energy systems while maintaining supply stability. The sale to Eiffel Investment Group reflects the company’s broader approach to building, operating, and partially divesting renewable assets, creating a self-sustaining cycle of development and reinvestment.

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Reinforcing the Energy Transition Through Partnerships

For Eiffel Investment Group, a firm specializing in sustainable infrastructure and climate-focused investments, the acquisition represents a key opportunity to collaborate with one of the world’s leading energy transition players. The firm’s participation in the French portfolio marks another milestone in mobilizing private capital toward large-scale decarbonization projects. As the renewable energy market in Europe accelerates under strengthened climate commitments and net-zero targets, TotalEnergies’ asset rotation model demonstrates how strategic partnerships and disciplined capital management can accelerate the global energy transition while maintaining investor confidence. With multiple renewable transactions in the pipeline, the company’s latest move reinforces its dual ambition to deliver profitable growth while advancing toward carbon neutrality by 2050.

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