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Released October 01, 2025 | SUGAR LAND
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Written by Daniel Graeber for Industrial Info Resources (Sugar Land,
Texas)--After acquiring acreage in the U.S. shale patch to bolster its liquefied natural gas (LNG) segment, TotalEnergies SE (Courbevoie, France) said it was offloading half of its solar portfolio in the country to investment firm KKR (New York, New York).
Total expects to receive around $950 million at closing for the sale of its solar portfolio in the United States, which boasts a collective power capacity of 1.4 gigawatts (GW). The company said Monday the transaction aligns with its renewables business model.
"To achieve the 12% profitability target it sets for its Integrated Power business, TotalEnergies divests up to 50% of its renewable assets once they reach commercial operation date (COD) and are derisked, allowing the company to maximize asset value and manage risks," the company explained.
Total's renewable division in the United States claims two subsidiaries - Shockoe Solar and Springwater Solar - along with several plants in various stages of operation or construction. Its Springwater Solar facility in Ohio will boast 155 megawatts (MW) of power, along with 75 MW of battery storage.
Subscribers to Industrial Info's Global Market Intelligence (GMI) Power Project Database can learn more by viewing the project report.
Describing the purchase as the start of a joint venture, KKR said it was optimistic about the collective opportunity in renewables.
"We have long been investors in renewables through our infrastructure platform, having committed more than $23 billion to date in energy transition investments," said Cecilio Velasco, the managing director at KKR. "TotalEnergies' North American solar portfolio is a great fit for us, representing high-quality renewable energy assets with long term contracts."
The arrangement comes amid pressure for the U.S. renewables division, with President Donald Trump's administration scrapping various tax credits and ordering at least two offshore wind farms to halt construction, even though one of them was around 80% completed. Both projects have since been revitalized, however.
Despite the political and legal pressures, solar is advancing quickly in the U.S. economy. The federal Energy Department said in a monthly report for September that total electric power generation is on pace to increase by 2.3% annually in 2025 and another 3% by next year.
"We expect that solar power will supply the largest share of the increase in both years," analysts wrote.
Natural gas still dominates utility-scale power, accounting for about 40% of what's on the grid this year, with renewables representing about a quarter. Despite encouragement from the Trump administration, renewables are outpacing both coal and nuclear power.
Total's venture with KKR follows an acquisition of shale natural gas acreage in the Anadarko basin, situated largely in Oklahoma, from Continental Resources (Oklahoma City, Oklahoma).
TotalEnergies acquired acreage with a potential gross production rate of around 350 million cubic feet of natural gas per day by 2030. Covering some 50,000 square miles across Oklahoma, the Anadarko basin could hold as much as 16 billion barrels of oil and more than 200 trillion cubic feet of natural gas.
On Tuesday, the company said it plans to increase net energy production by around 4% per year through 2030. Electricity production should increase by 20% annually through 2030, drawing on renewables for 70% of that generation.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 Trillion (USD).
Total expects to receive around $950 million at closing for the sale of its solar portfolio in the United States, which boasts a collective power capacity of 1.4 gigawatts (GW). The company said Monday the transaction aligns with its renewables business model.
"To achieve the 12% profitability target it sets for its Integrated Power business, TotalEnergies divests up to 50% of its renewable assets once they reach commercial operation date (COD) and are derisked, allowing the company to maximize asset value and manage risks," the company explained.
Total's renewable division in the United States claims two subsidiaries - Shockoe Solar and Springwater Solar - along with several plants in various stages of operation or construction. Its Springwater Solar facility in Ohio will boast 155 megawatts (MW) of power, along with 75 MW of battery storage.
Subscribers to Industrial Info's Global Market Intelligence (GMI) Power Project Database can learn more by viewing the project report.
Describing the purchase as the start of a joint venture, KKR said it was optimistic about the collective opportunity in renewables.
"We have long been investors in renewables through our infrastructure platform, having committed more than $23 billion to date in energy transition investments," said Cecilio Velasco, the managing director at KKR. "TotalEnergies' North American solar portfolio is a great fit for us, representing high-quality renewable energy assets with long term contracts."
The arrangement comes amid pressure for the U.S. renewables division, with President Donald Trump's administration scrapping various tax credits and ordering at least two offshore wind farms to halt construction, even though one of them was around 80% completed. Both projects have since been revitalized, however.
Despite the political and legal pressures, solar is advancing quickly in the U.S. economy. The federal Energy Department said in a monthly report for September that total electric power generation is on pace to increase by 2.3% annually in 2025 and another 3% by next year.
"We expect that solar power will supply the largest share of the increase in both years," analysts wrote.
Natural gas still dominates utility-scale power, accounting for about 40% of what's on the grid this year, with renewables representing about a quarter. Despite encouragement from the Trump administration, renewables are outpacing both coal and nuclear power.
Total's venture with KKR follows an acquisition of shale natural gas acreage in the Anadarko basin, situated largely in Oklahoma, from Continental Resources (Oklahoma City, Oklahoma).
TotalEnergies acquired acreage with a potential gross production rate of around 350 million cubic feet of natural gas per day by 2030. Covering some 50,000 square miles across Oklahoma, the Anadarko basin could hold as much as 16 billion barrels of oil and more than 200 trillion cubic feet of natural gas.
On Tuesday, the company said it plans to increase net energy production by around 4% per year through 2030. Electricity production should increase by 20% annually through 2030, drawing on renewables for 70% of that generation.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 Trillion (USD).
