foreign media reported. Including debt, the deal is worth $1.25 billion.
It is reported that the target of the sale includes six large-scale utility-grade solar projects with a total installed capacity of 1.3GW and 41 distributed generation projects with a total installed capacity of 140MW. Most of the projects are located in the United States. Total Energy said that some of the electricity generated by these projects had been sold to third parties and some would be sold by Total Energy itself.
At the same time, Total Energy said it would continue to hold and operate the other half of the portfolio.
The deal is part of Total Energy's strategy to develop renewable energy projects and then raise funds to invest in natural gas assets through the sale of project equity-Total Energy announced on Monday that it would acquire 49% of Continental Resources'natural gas assets in Oklahoma.
Total Energy has a total installed capacity of 10GW of onshore utility-grade solar, wind and energy storage projects in operation or under construction in the United States. Its goal is to achieve 35 GW of renewable energy installed capacity by the end of 2035-the company announced in 2021 that it planned to achieve 35 GW of renewable energy installed capacity by the end of 2025.