EUROPE: TotalEnergies taking offers for stake in 500 MW wind & solar portfolio
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TotalEnergies is in the process of taking non-binding offers for a 50% stake in a 500 MW portfolio of operational onshore wind and solar PV projects across France, Germany, Poland and Spain, it is understood.
The group is being advised on the sale by Augusta & Co (financial), which is believed to be taking indicative bids from prospective suitors over the first part of June.
The exact auction timeline is not yet known, although shortlisted parties could potentially submit binding offers by the start of August.
Around half of the portfolio’s installed capacity is believed to be located in France, while onshore wind makes up the bulk of the overall portfolio.
The transaction is forecast to appeal most to low cost of capital institutional investors.
TotalEnergies declined to comment.
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