TotalEnergies SE (EU:TTE) has completed the sale of its entire European distributed solar portfolio as the French energy group reshapes its renewable energy strategy to concentrate on large-scale solar and wind projects.
The announcement follows a positive session for the company’s shares, which finished higher yesterday after oil prices recovered amid renewed geopolitical tensions between the United States and Iran.
The transaction covers approximately 170 MW of distributed solar assets, primarily rooftop photovoltaic (PV) systems located in France, Belgium, the Netherlands, Spain, Portugal, the UK and Luxembourg. The portfolio has been acquired by independent renewable energy producer Amarenco together with AMPYR Distributed Energy, which will take ownership and operational control of the assets.
The companies did not disclose the financial terms of the transaction.
The disposal forms part of TotalEnergies’ 2026–2030 Strategy and Outlook, under which the company plans to reduce capital and operating expenditure by USD 7.5 billion (EUR 6.55 billion) in response to an uncertain macroeconomic environment. The strategy includes monetising renewable assets in non-core markets while accelerating investment in battery energy storage to benefit from electricity price volatility. TotalEnergies said its business model is better suited to developing utility-scale renewable projects, where economies of scale are greater, than smaller distributed generation assets of less than 3 MW. The company added that the divestment will not affect its wider renewable energy development plans.
Over the past 12 months, TotalEnergies has commissioned 8 GW of gross renewable generating capacity, bringing its total installed renewable portfolio to 35 GW at the end of March. The group intends to maintain that annual deployment rate through 2030, with the objective of exceeding 75 GW of installed capacity and achieving net electricity production of 100 TWh.
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