Total is selling a 50% interest in its 143MW wind and solar portfolio in France to Banque des Territoires.
The portfolio consists of 11 wind farms and 35 solar power plants, with a cumulative capacity of 96MW and 47MW respectively and has been valued at around €300m.
The entry of Banque des Territoires into both portfolios alongside Total Quadran will enable Total Quadran to pursue further development of renewable energy projects in France in partnership with a locally established payer committed to regional development.
“The entry of a new partner into our projects in operation follows the refinancing performed earlier this year and is in line with our renewables development business model, aiming to achieve over 10% return on equity”, said Philippe Sauquet, gas, renewables and power president at Total.
Banque des Territoires energy and ecological transition director Emmenual Legrand said: “We invest in renewable energies to support stakeholders and public policies actively engaged in energy transition and the development of more sustainable and environmentally friendly communities.
“This acquisition fully supports our ambition: helping to roll out new renewable energy projects in France.”