Total sold a half share in a French onshore wind and solar portfolio to finance group Banque des Territoires, in a deal the oil and gas major said creates a base for further renewables growth in its home market.
Banque des Territoires – an arm of French state-backed investment giant Caisse des Depots – bought a 50% stake in 11 wind farms and 35 solar arrays adding up to 143MW between them, worth a total €300m ($330m) and operated by the oil group’s Total Quadran development unit.
Total sold a half share in a French onshore wind and solar portfolio to finance group Banque des Territoires, in a deal the oil and gas major said creates a base for further renewables growth in its home market.
Banque des Territoires – an arm of French state-backed investment giant Caisse des Depots – bought a 50% stake in 11 wind farms and 35 solar arrays adding up to 143MW between them, worth a total €300m ($330m) and operated by the oil group’s Total Quadran development unit.
Total’s other interests in renewable energy range from investments in US PV outfit SunPower and Lithium-ion battery maker Saft to international onshore wind projects via its subsidiary Total Eren.
In 2019 it announced a tie-up with Chinese clean energy group Envision to develop distributed solar projects in China and revealed plans to break into the UK offshore wind market.
