French stocks are turning in a mixed performance in lackluster trade on Monday amid a lack of triggers. Investors are mostly cautious, looking ahead to some crucial economic data later in the week.Luxury stocks are finding some support.The benchmark CAC 40, moving between 7,872.29 and 7,901.23, was up 2.89 points or 0.04% at 7,873.57 a few minutes ago. Kering, STMicroElectronics, EssilorLuxottica, Hermes International, Eurofins Scientific, Stellantis and LVMH are gaining 1.1 to 1.8%.Thales is up nearly 1%. ...

Group 1 - TotalEnergies agreed to sell a 50% stake in a 1.4 GW North American solar portfolio to KKR, valuing the portfolio at $1.25 billion [4] - The deal aligns with TotalEnergies' renewables strategy and is expected to deliver $950 million [4]

Core Viewpoint - Total has agreed to sell part of its stake in North American solar assets to KKR & Co, valuing the entire asset portfolio at $1.25 billion, including debt [1] Group 1: Transaction Details - The transaction involves the sale of half of a 1.4 GW asset portfolio, with Total expected to receive $950 million upon completion [1] - The deal includes six large solar power facilities with a total installed capacity of 1.3 GW and 41 distributed generation facilities with a capacity of 140 MW, primarily located in the U.S. [1] - Total has been attempting to sell its renewable energy assets in the U.S. as part of a strategy to enhance returns on green investments by divesting 50% of its stake after project completion [1] Group 2: Financial Context - Total's debt has nearly doubled since the beginning of the year, reaching approximately $26 billion by the end of June, attributed to falling oil prices [2] - The company has also agreed to acquire a 49% stake in natural gas production assets operated by Continental Resources in Oklahoma for an undisclosed amount [1] - As of the end of the second quarter, Total's net solar installed capacity in North America reached 2.8 GW, along with approximately 900 MW of onshore wind capacity [2] Group 3: Strategic Direction - Total continues to pursue its diversification strategy, aiming for electricity to account for 20% of its energy sales by the end of the decade, despite other companies like Shell and BP scaling back clean energy investments due to poor returns [2] - Recent acquisitions include a 50% stake in a Polish biogas production company and a 50% stake in a Texas-based integrated energy project with 2 GW capacity [2]

Core Viewpoint - Nigeria has approved TotalEnergies' $510 million divestment of its interest in Oil Mining Lease 118, which includes the Bonga field, to Shell and Nigerian Agip Exploration, as part of TotalEnergies' strategy to streamline its portfolio and reduce debt [1][3]. Group 1: Transaction Details - Shell Nigeria Exploration will acquire 10% of TotalEnergies' 12.5% stake for $408 million, while Agip will take the remaining 2.5% interest for $102 million [2]. - The Nigerian Upstream Petroleum Regulatory Commission confirmed that the approval was granted after both acquiring companies demonstrated financial capacity to meet their commitments [2]. Group 2: Strategic Context - The divestment is part of TotalEnergies' broader program aimed at generating approximately $3.5 billion globally across oil and renewable holdings, as stated by CEO Patrick Pouyanne [3]. - Following the transaction, SNEPCo. will continue as the operator of OML 118 with a controlling 55% stake, while Esso Exploration and Production Nigeria retains its 20% share, and Agip's interest will increase from 12.5% to 15% [3][4]. Group 3: Recent Developments - Earlier in the month, a separate transaction involving TotalEnergies was revoked due to the intended buyer's inability to secure necessary financing [3]. - TotalEnergies has recently signed four production sharing contracts with the Liberia Petroleum Regulatory Agency for offshore exploration blocks, which include a commitment to conduct a 3D seismic survey [4].

Core Viewpoint - TotalEnergies is enhancing its natural gas production capabilities in the U.S. by acquiring a 49% interest in natural gas producing assets in the Anadarko Basin from Continental Resources, which will strengthen its LNG value chain integration [1][9]. Group 1: Acquisition Details - The acquisition involves low-cost and long-plateau natural gas assets that are well connected to Henry Hub through existing midstream infrastructure [1][9]. - The acquired assets have the potential to reach a gross production of approximately 350 million standard cubic feet per day (MMscfd) by 2030, sustaining this production level over the long term [2]. - TotalEnergies aims to secure a net gas production of around 150 MMscfd from these assets [2]. Group 2: Strategic Positioning - This acquisition complements previous acquisitions in the Eagle Ford Basin, specifically the Dorado and Constellation assets completed in 2024 [2]. - TotalEnergies operates a technical production of around 500 MMscfd in the Barnett, further enhancing its production capabilities [3]. Group 3: Company Ambitions - TotalEnergies is the world's third-largest LNG player with a global portfolio of 40 million tons per year (Mt/y) in 2024, benefiting from an integrated position across the LNG value chain [4]. - The company aims to increase the share of natural gas in its sales mix to nearly 50% by 2030, focusing on reducing carbon emissions and eliminating methane emissions associated with the gas value chain [4].

Core Insights - TotalEnergies has signed an agreement with private equity giant KKR to sell 50% of its 1.4 GW solar investment portfolio in North America [1] - The transaction aligns with TotalEnergies' renewable energy business model and is expected to generate a total of $950 million in funding upon closing [1] - After the completion of the deal, TotalEnergies will retain 50% ownership of the assets and continue to operate them [1]

Core Viewpoint - TotalEnergies is selling 50% of its solar portfolio in North America for $950 million, aligning with its strategy to develop renewable projects and subsequently sell stakes to fund its natural gas investments [1][2]. Group 1: Sale Details - The company will receive $950 million from the sale to investment firm KKR and related bank refinancing [2]. - This sale is part of a broader strategy, with TotalEnergies expecting to generate $3.5 billion from disposals by year-end to offset approximately $3 billion in acquisitions [2]. - The deal encompasses six utility-scale solar assets and 41 distributed generation assets, primarily located in the United States [3]. Group 2: Asset Management - TotalEnergies will retain a 50% stake in the 1.4 gigawatt solar portfolio, which has an enterprise value of $1.25 billion [3]. - The company plans to sell some of the electricity generated by these assets [3]. Group 3: Future Investments - In addition to the solar sale, TotalEnergies has signed an agreement to acquire 49% of gas producing assets in the Anadarko Basin, Oklahoma, from U.S. oil producer Continental Resources [3]. - These gas assets are projected to reach gross production of around 350 million standard cubic feet per day (MMscfd) by 2030, enabling TotalEnergies to achieve approximately 150 MMscfd of net production [4].

Core Viewpoint - TotalEnergies is selling 50% of its solar portfolio in North America to KKR, indicating a strategic move to partner with a financial investor in the renewable energy sector [1] Company Summary - TotalEnergies is actively engaging in the renewable energy market by divesting part of its solar assets, which reflects a trend of energy companies seeking partnerships to enhance their investment capabilities [1] Industry Summary - The transaction highlights the growing interest of financial firms like KKR in renewable energy assets, showcasing the increasing integration of private equity in the energy transition [1]

Core Viewpoint - TotalEnergies is selling a 50% stake in its North American solar project portfolio, which has a capacity of 1.4 gigawatts [1] Group 1 - The sale reflects TotalEnergies' strategy to optimize its asset portfolio and focus on core operations [1] - The transaction is expected to enhance TotalEnergies' financial flexibility and support its renewable energy investments [1] - The solar project portfolio is part of TotalEnergies' broader commitment to increase its renewable energy capacity [1]

TotalEnergies faces mounting pressure to show it can sustain payouts and deliver returns from its push into low-carbon energy as debt climbs and shares lag peers https://t.co/3Nlsv5aqAD ...