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TotalEnergies Divests Distributed Solar Assets in Europe

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Oil supermajor TotalEnergies (TTE) has completed the divestment of its distributed solar assets in Europe, totaling 170 megawatts in capacity, as it refocuses its renewables business on utility-scale solar and wind farms, it said on Thursday.

"Distributed generation involves the development of projects generally below 3 MW, for which TotalEnergies' business model is less suited than for large utility-scale power plants that offer economies of scale," the company said.

Amarenco and AMPYR Distributed Energy will continue to operate the divested solar assets, which are mainly rooftop installations, in France, Belgium, the Netherlands, Spain, Portugal, the UK, and Luxembourg, according to the statement.

TotalEnergies said the divestment will not impact its pace of renewables capacity deployment. It has installed 8 gigawatts of gross renewable capacity in the last 12 months and aims to maintain that pace through 2030.

This is expected to support its target of reaching 75 GW gross capacity by 2030, more than double the March level of 35 GW.

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