Workflow
TotalEnergies to sell 50% of North American solar portfolio, invest in U.S. gas assets

(Reuters) -TotalEnergies will sell 50% of its solar portfolio in North America in a 950milliondeal,itsaidonMonday,addingthatitalsoplanstoinvestingasproducingassetsintheUnitedStates,shoringupfuturesuppliesforitscorebusiness.ThesaleisconsistentwiththeFrenchoilmajorsstrategyofdevelopingrenewablesprojectsthensellingstakestoraisecash,whichithopestospendongrowingitsnaturalgasportfolio.Thecompanysaidthatitwillreceive950 million deal, it said on Monday, adding that it also plans to invest in gas producing assets in the United States, shoring up future supplies for its core business. The sale is consistent with the French oil major's strategy of developing renewables projects then selling stakes to raise cash, which it hopes to spend on growing its natural gas portfolio. The company said that it will receive 950 million from the sale ...