TotalEnergies has completed the sale of a 50% stake in its 424MW wind and solar portfolio in Greece to Asterion Industrial Partners.
The company said the transaction values the portfolio at €508 million, equivalent to around €1.2 million per MW installed.
TotalEnergies retains a 50% stake in the assets and will remain their operator, according to the company.
The group will also offtake and market most of the electricity produced once the projects cease to benefit from regulated tariffs.
TotalEnergies stated that the transaction aligns with its integrated power business model, which combines renewable generation with flexible assets to deliver firm power.
The company added that divesting up to 50% of renewable assets enables it to optimise portfolio value while sharing risk.
Asterion Industrial Partners is an independent investment manager focused on mid-market European infrastructure, with investments spanning energy, digital, utilities and mobility sectors.
TotalEnergies operates across the global energy value chain and has positioned sustainability at the centre of its strategy and operations.