TotalEnergies explores sale of Asian renewable assets to reduce debt – report

Core Viewpoint - TotalEnergies is actively exploring the sale of several renewable energy assets in Asia to alleviate its debt burden, with potential asset values reaching several hundred million dollars [1] Group 1: Debt Reduction Efforts - TotalEnergies has successfully reduced its debt in the last quarter and anticipates further declines by year-end through planned asset disposals [2] - The company has already divested shale holdings in Argentina and wind and solar assets in France, with an expectation to finalize approximately $2 billion in additional divestments this quarter across various markets including the US, Norway, and Nigeria [2] Group 2: Strategic Focus and Market Expansion - The company plans to prioritize growth in targeted power markets while divesting non-core renewable assets [3] - TotalEnergies aims to expand its power business in deregulated markets such as Europe, the US, and Brazil, while increasing activity in selected renewable markets like India and South Africa [3] - The company is considering a reduction of its 19% stake in India's Adani Green Energy, which has been described positively by CEO Patrick Pouyanné [3] Group 3: Asian Renewable Portfolio - TotalEnergies' renewable portfolio in Asia includes projects in multiple countries, featuring wind farms in Taiwan and South Korea, as well as solar plants in Indonesia and Australia [4] - The company reports approximately 23 gigawatts of renewable energy capacity in the region, encompassing projects that are under development and construction [4] Group 4: New Power Purchase Agreement - TotalEnergies has signed a 15-year power purchase agreement with Google to supply 1.5 terawatt-hours of certified renewable electricity from its Montpelier solar farm in Ohio, which is nearing completion [5] - This solar facility is connected to the PJM grid system and is expected to support Google's data center operations in Ohio [5]