Total: divests shares in renewable projects
(CercleFinance.com) - Total, through its French renewable energy subsidiary Total Quadran, has announced that Banque des Territoires and Crédit Agricole Assurances have acquired a 50% stake in the capital of two portfolios of renewable energy projects.
Through this deal, CA Assurances is investing in nine wind farms and 44 solar power plants for a total capacity of 285 MW (100%), while the Banque des Territoires is investing in eight solar farms in New Caledonia for a total capacity of 53 MW (100%).
These divestments value these portfolios at an enterprise value of around 600 million dollars (100%) and enable the portfolio of renewables to be de-risked, accelerate project cash flows and improve the return on invested capital.
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