TotalEnergies Reshapes Renewable Portfolio With Solar Asset Sale
Synopsis
The company has sold its European distributed solar business to concentrate on larger renewable energy developments with stronger profitability.
TotalEnergies has sold around 170 MW of distributed solar generation in seven European countries as the energy giant focuses on larger renewable energy investments.
The portfolio has been acquired by Amarenco and AMPYR Distributed Energy. The financial terms of the transaction have not been disclosed.
The solar portfolio of assets is located in France, Belgium, the Netherlands, Spain, Portugal, the United Kingdom and Luxembourg.
These are largely rooftop and commercial solar projects, with the French integrated major reporting they are typically below 3 MW in capacity, classifying them as distributed generation rather than utility scale.
Strategic Shift Towards Larger Renewable Projects
A paradigm change towards larger renewable projects. TotalEnergies' divestiture of the solar assets is a result of its strategic realignment to prioritize large solar and wind projects, aiming to expand its electricity sector.
The company said that this move will not impact its expansion efforts in renewables.
Existing customers and asset operations will be handled by Amarenco and AMPYR. In the past year, TotalEnergies has accelerated the growth of its renewable power capacity. Between March 2025 and March 2026, the company added 8 GW of gross renewable capacity, bringing its total to 35 GW.
By the end of April, this figure exceeded 36 GW, and the company remains on target to deploy over 75 GW of renewable power and more than 100 TWh of annual net electricity production by 2030.
A Wider Trend in Renewable Investment
The sale comes amidst a broader trend among major oil companies to optimize their renewable investment strategies.
Larger projects, including utility-scale operations, often prove to be more cost-effective per unit of electricity than distributed ones, and are increasingly central to long-term investment plans.
This trend is reflected in Australia, where significant investment is going into utility-scale renewable projects, while the country also leads globally in rooftop solar adoption.
According to the Clean Energy Council's 'Clean Energy Australia 2025' report, renewables accounted for about 40% of Australia's electricity in 2024, with large-scale solar and wind forming a significant portion of new investments, even as rooftop solar continues to dominate the nation's renewable capacity.
TotalEnergies' asset portfolio realignment is also driven by its strong financial performance. The company reported adjusted net income of US$4.2 billion for the first quarter of 2026, and continues to invest in its oil and gas, power, and renewable energy segments, as part of a strategy to strategically select and invest in larger renewable assets worldwide.
Source: Reuters
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Pooja Malik is a business journalist with over six years of experience covering startups, entrepreneurship, and emerging trends. She has previously worked with leading media platforms such as YourStory Media and BW BusinessWorld, where she reported on business, policy, and market developments. Currently, she serves as Editor at The Inspirepreneur Magazine, where she writes and edits stories across business, lifestyle, and travel, with a focus on clarity, accuracy, and reader relevance.
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