Total Sells 50% Stakes in Two Renewables Portfolios
By Giulia Petroni
Total SE said Tuesday that it is selling half its equity in two
French renewables portfolios to Banque des Territoires and Credit
The French oil-and-gas major said the portfolios in full have a
total capacity close to 340 megawatts and are valued at around $600
Banque des Territoires will acquire a 50% stake in a portfolio
of eight solar farms in the French territory of New Caledonia,
while Credit Agricole Assurances a 50% stake in a portfolio of nine
wind farms and 44 solar power plants.
"These farm downs are the implementation of the business model
we have defined for the development of renewable energies aiming to
achieve over 10% return on equity," said Julien Pouget, senior vice
president of Renewables at Total.
Write to Giulia Petroni at email@example.com
(END) Dow Jones Newswires
February 23, 2021 02:43 ET (07:43 GMT)
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