What specific assets is TotalEnergies selling to KKR, and what is the value of the deal?

TotalEnergies is selling a 50% stake in an onshore solar and wind asset portfolio in Europe—whose electricity is already being sold to third parties or will be marketed by Total—to an insurance account managed by KKR & Co., in a deal valued at €1.8 billion ($2.1 billion).

How does TotalEnergies’ renewable energy strategy differ from that of its European peers Shell and BP?

Unlike Shell and BP Plc—which are retreating from clean energy ambitions amid lackluster returns—TotalEnergies continues to invest in green power generation and is pursuing a strategy of offloading stakes in built renewable projects to boost returns, cementing its position as an outlier among Europe’s major oil companies.

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TotalEnergies agreed to sell a 50% stake in its European renewable portfolio to KKR for €1.8 billion while acquiring Shell's onshore renewables assets, cementing its green diversification strategy amidst competitors retreating from the sector.

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