TotalEnergies to Sell Stake in North American Solar to KKR (2)

TotalEnergies SE agreed to sell a stake in North American solar assets to KKR & Co. in a deal valuing the portfolio at $1.25 billion including debt.

The energy major will divest half of a 1.4-gigawatt portfolio to the US private equity giant, it said Monday. With bank refinancing currently being finalized, Total will receive $950 million at closing.

Total has been looking to offload stakes in US renewable assets for months. It’s part of a strategy to sell 50% portions of such projects once they’re built to boost returns on its green investments. The disposal will help it bring ...