January 28, 2020 / 7:15 AM / 2 months ago

Banque des Territoires buys 50% stake in Total renewable energy assets

PARIS, Jan 28 (Reuters) - French energy group Total said on Tuesday that it had agreed to sell a 50% equity stake in a portfolio of solar and wind energy assets to Banque des Territoires.

Total said the portfolio consisted of 11 wind farms and 35 solar power plants, with a cumulative capacity of 96 megawatts (MW) and 47 MW respectively, and had been valued at around 300 million euros ($332.8 million) in total.

“The entry of a new partner into our projects in operation follows the refinancing performed earlier this year and is in line with our renewables development business model, aiming to achieve over 10% return on equity,” said Philippe Sauquet, President Gas, Renewables and Power at Total.

$1 = 0.9014 euros Reporting by Sudip Kar-Gupta, editing by Louise Heavens

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