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TotalEnergies Reassesses Its Renewable Footprint

TotalEnergies is evaluating a potential sale of select renewable energy assets in Asia as part of a broader effort to streamline its portfolio and reduce debt. According to a company spokesperson, the assets under review could command a valuation of several hundred million dollars, confirming information first reported by Bloomberg.

The move aligns with the company’s long-term strategic plan to prioritize growth in markets where it already holds significant influence and infrastructure.

A Refined Focus on Core Global Markets

Earlier this year, TotalEnergies CEO Patrick Pouyanné emphasized that the company is sharpening its renewable energy expansion around a set of key markets: Europe, the United States, and Brazil. Under this strategy, the company is streamlining operations in regions outside these priority areas.

TotalEnergies is also targeting countries where it maintains substantial oil and gas investments, integrating renewable energy offerings into its existing multi-energy footprint. A prominent example is its flagship $27 billion project in Iraq, which includes renewable power alongside traditional energy production.

In the Middle East, the company recently secured a license to develop, construct, and operate a 400-megawatt solar power facility in Saudi Arabia, reinforcing its commitment to large-scale solar expansion in markets tied to strategic partnerships.

Positioning for a Dual-Energy Future

At the Future Investment Initiative summit in Saudi Arabia, Pouyanné underscored that TotalEnergies remains well-positioned in a rapidly shifting energy environment precisely because it maintains a dual-energy profile, supplying both renewable power and oil and gas. This approach, he stated, enables the company to adapt to geopolitical and economic changes while meeting diverse global energy needs.

Significant Exposure Through Asian Partnerships

Roughly one-quarter of the company’s operational renewable portfolio currently stems from its partnerships in India. These include joint ventures with the Adani Group as well as a direct stake in Adani Green Energy Limited, one of the world’s major renewable developers.

The potential sale of selected Asian assets suggests TotalEnergies is actively rebalancing its portfolio to support investment in its highest-growth markets while maintaining strategic partnerships that enhance its global renewable presence.

The evaluation process remains ongoing, with no final decisions announced.