Project Finance Brief: TotalEnergies Sells 50% of 2 GW Solar-Storage Portfolio in Texas

Neoen sells renewable energy portfolio to HMC Capital in Australia

December 11, 2024

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TotalEnergies, a diversified multinational energy company, announced the sale of 50% of a portfolio of 2 GW solar and battery energy storage projects in Texas to Apollo, a New York-based asset management firm. The transaction will provide the company $800 million in cash, with $550 million in equity and $250 million in shareholder loan refinancing. The portfolio consists of three solar projects with a total capacity of 1.7 GW and two battery storage projects with a total capacity of 300 MW.

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