TotalEnergies SE ($TTE) Stock: Secures $950M Solar Portfolio Sale, Keeps 50% Ownership

TLDR

• TotalEnergies sells 50% of North American solar portfolio to KKR for $950M.
• Deal includes 1.4 GW of solar assets across U.S. markets.
• Company retains 50% stake, continuing operations and power sales.
• Part of strategy to boost profitability in Integrated Power business.
• TTE stock closed at $63.15 on September 26, 2025, up 1.17%.

TotalEnergies SE (NYSE: TTE) closed at $63.15 on September 26, 2025, gaining 1.17% during the session. After hours, shares eased slightly to $63.03.

TotalEnergies SE (TTE)

The company’s latest announcement, a $950 million deal with investment firm KKR, adds momentum to its ongoing renewable expansion.

Details of the Solar Portfolio Deal

The transaction covers six utility-scale solar projects totaling 1.3 gigawatts and 41 distributed generation assets with 140 megawatts capacity. Together, the portfolio amounts to 1.4 GW of renewable generation. TotalEnergies will retain a 50% stake and continue to operate the assets, keeping a strong foothold in the North American market.

TotalEnergies will receive $950 million at closing through a combination of asset sale proceeds and bank refinancing. The enterprise value of the portfolio is set at $1.25 billion.

Strategic Partnership With KKR

The company entered this agreement with KKR’s insurance vehicles and accounts, forming a joint venture to enhance its renewable energy operations. Stéphane Michel, President of Gas, Renewables & Power, highlighted that the deal fits TotalEnergies’ business model of divesting part of its assets once they reach commercial operation.

KKR’s Managing Director Cecilio Velasco emphasized the quality of the portfolio, calling it a strong addition to their $23 billion infrastructure investments in energy transition projects.

Integrated Power Business Model

TotalEnergies aims for a 12% profitability target in its Integrated Power business. To achieve this, it often divests up to half of its renewable projects post-commissioning. This approach maximizes value, limits risks, and supports growth. As of June 2025, the company had more than 30 GW of installed renewable capacity and is on track to hit 35 GW by the end of the year. By 2030, the target is 100 TWh of net electricity production.

Performance Overview

TTE’s stock has gained 21.18% year-to-date, outperforming France’s CAC 40 Index at 6.77%. Over three years, the stock rose 60.60%, well above the index’s 38.82%. Over five years, TTE delivered an impressive 148.96%, compared to the CAC 40’s 63.09%.

Financially, TotalEnergies maintains a market cap of $137.44 billion, a forward P/E ratio of 9.21, and levered free cash flow of $10.91 billion. With $25.61 billion in cash and a debt-to-equity ratio of 53.01%, the company has a solid base to expand in renewables while sustaining shareholder value.

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