Overview

• The deal forms a joint venture with KKR’s insurance vehicles, values the portfolio at $1.25 billion and delivers $950 million to TotalEnergies at closing.
• The portfolio comprises six utility‑scale projects totaling 1.3 GW and 41 distributed‑generation assets of 140 MW, with TotalEnergies retaining 50% ownership and ongoing operations and commercialization.
• On the same day, TotalEnergies disclosed an agreement to acquire a 49% interest in Continental Resources’ natural gas assets in Oklahoma.
• Management describes these moves as part of a program to raise about $3.5 billion by year‑end to address higher 2025 debt following acquisitions.
• Executives signaled divestment of renewable holdings outside the prioritized regions and openness to selling the Adani Green Energy stake, alongside a broader $7.5 billion savings plan and trimmed capex guidance.