TotalEnergies has sold 50 percent of its 604-megawatt wind, solar and hydro portfolio in Portugal to a consortium composed of MM Capital Partners 2 Co., Daiwa Energy & Infrastructure Co. and Mizuho Leasing Co. for a consideration of €178.5 million ($210 million). This implies an enterprise value of €550 million ($648 million), according to the company.
After this transaction, TotalEnergies will retain a 50 percent stake in the portfolio and will continue to operate the assets. Additionally, once the regulated tariffs they benefit from expire, TotalEnergies will purchase the production of these assets, which have an average age of 16 years, and will handle their commercialization.
“We are pleased with this partnership in Portugal, a country where TotalEnergies intends to continue its development in renewables,” said Olivier Jouny, senior vice president renewables at TotalEnergies. “In line with our strategy, this transaction allows us to optimize our capit
