Norton Rose Fulbright advises TotalEnergies on sale of 50% stake in European renewables portfolio to KKR

Global law firm Norton Rose Fulbright has advised TotalEnergies on the sale of a 50 percent stake in a 1.2 GW pan-European renewables portfolio to KKR, a leading global investment firm.

The transaction values the portfolio at an enterprise value of €1.8 billion and forms part of TotalEnergies' established strategy of optimising capital allocation within its renewables business through selective transactions.

The portfolio comprises onshore wind and solar assets located across Germany, Spain, France and Poland. TotalEnergies will retain a 50% interest in the portfolio and continue to operate the assets following completion of the transaction.

The cross-border Norton Rose Fulbright team was led by London-based corporate partner Andrew Davies and includes lawyers from Norton Rose Fulbright's Brussels, Düsseldorf, Hamburg, Hong Kong, London, Munich, Newcastle, New York, Paris and Warsaw offices.

Andrew Davies commented:

"This transaction highlights the continued strength of investor appetite for high-quality renewable energy infrastructure assets across Europe. The deal supports TotalEnergies' long-term renewables strategy and demonstrates how established energy companies are continuing to unlock value from renewable portfolios while retaining significant operational involvement."

The transaction is subject to customary closing conditions.

The full team included:

• Brussels : Associate David Fila
• Düsseldorf: Partner Simon Weppner, senior associate Nikolaus Becker.
• Hamburg: Partner Tim Schaper, senior associate Tobias Teichner, associate Noby Cyriac.
• Hong Kong : Head of Antitrust and Competition, Asia, Marc Waha, senior associate Joe Lee
• London: Partners Andrew Davies, Charles Pinkerton, Joseph Bentley and Julia Lloyd, counsels Sam Morrey and Sarah Tonks, senior associates Julie Norton and Claire Younger, associates Alex Stewart-Moreno, Giulia Schwartz, Rebecca Bell and Olivia Peck.
• Munich: Partner Wenzel Richter.
• Newcastle: Associate Dale Deplitch.
• New York: Global Head of Private Equity S. Ward Atterbury.
• Paris: Partners Marta Giner Asins and Jean-Claude Rivalland, counsel Louis Fridman, associates Constance Chevreste, Mathilde Juyol and Géraldine Gaulard.
• Warsaw: Partner Tomasz Rogalski, and counsels Krzysztof Jasiski and Wojciech Janik.