TotalEnergies SE completed a €254 million sale of a 50 % interest in a 424‑megawatt renewable portfolio in Greece, comprising a mix of wind and solar assets. The transaction, closed on December 17 2025, transfers full operational responsibility to Asterion Industrial Partners while leaving TotalEnergies with a continued 50 % ownership and the right to offtake electricity once regulated tariffs expire.
The divestiture is part of TotalEnergies’ broader strategy to streamline its renewable portfolio and concentrate on projects with higher return profiles. By selling half of the Greek assets, the company frees up €254 million in cash that can be deployed into upstream development, integrated power projects, or shareholder returns through dividends and share buybacks. The sale also reduces exposure to the Greek market, allowing TotalEnergies to focus on more strategically aligned renewable assets in other regions.
Financially, the €254 million proceeds add to a capital base that already supported a €200 million share‑buyback program in December 2025 and a €7.5 billion buyback authorization for the full year. TotalEnergies’ 2024 results showed a decline in adjusted net income to $18.3 billion from $23.2 billion in 2023, largely due to lower refining margins, but the company maintained a strong return on average capital employed and a healthy gearing ratio. The Greek portfolio sale therefore supports a more efficient capital allocation while preserving a stake in a growing renewable market.
The Greek renewable market is characterized by favorable regulatory incentives and a supportive policy environment. Asterion’s entry through this acquisition expands its European infrastructure footprint and provides TotalEnergies with a partner that can manage the assets locally. The transaction aligns with TotalEnergies’ pattern of divesting minority stakes in mature renewable assets across North America, Poland, and France, reinforcing a disciplined approach to portfolio optimization.
Strategically, the sale signals TotalEnergies’ continued commitment to a low‑carbon transition while maintaining a diversified energy mix. The company’s integrated power and LNG segments have delivered strong performance in 2024, with integrated power cash flow rising 19 % year‑on‑year. By reallocating capital from a mature Greek portfolio to higher‑growth opportunities, TotalEnergies aims to sustain its long‑term value creation and reinforce its position as a leading integrated energy player.
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