French energy giant TotalEnergies announced it would be selling off a 50% stake in its Renewable Energie Sources (RES) portfolio in various geographic regions across the world, including Greece.
As revealed by TotalEnergies CEO, Patrick Pouyanne, during a conference call with analysts, and press reports, the French-based company is seeking partners in the renewable energy sectors where it has developed and operates projects in the United States, Spain, Portugal, France, and Greece.
Their aim is to maximize the returns provided by specific renewable energy projects. This portfolio, as reported by foreign media, is valued at approximately $2.5 billion.
During the conference call with analysts regarding the financial results, Pouyanne stated that TotalEnergies will seek partners in the renewable energy sector, although it is not a central strategy of the group. He explained that this approach allows for better risk management of their investment because, as he noted local partners understood the peculiarities of their markets better, making specific reference to Greece, saying that it’s different when you divest 50% of your assets in Texas compared to Greece.
TotalEnergies holds a significant renewable energy portfolio in Greece, ranking fifth in the wind power sector, with an installed capacity of 250 MW. Including photovoltaic projects, the total operational and under-construction renewable energy projects reach 420 MW. It is estimated that this portfolio could attract international funds interested in establishing a presence in the Greek market. They would be willing to accept returns between 8% and 10%.
TotalEnergies was actively present in Greece in the field of hydrocarbon exploration and exploitation. Until April 2022, it held a majority stake in the joint venture with ExxonMobil and HELLENiQ ENERGY in the two offshore blocks “West” and “Southwest of Crete”.
The French company decided to withdraw by selling its rights to ExxonMobil, shifting in investment towards clean energy.
The multinational, which is active in more than 130 countries, is celebrating its 100th anniversary in 2024 and is one of the largest operating energy groups with a fully integrated and diversified range of activities, including hydrocarbon exploration, production and renewable energy sources, hydrogen, and LNG.
Source: tovima.com
στο Google News και μάθετε πρώτοι όλες τις ειδήσειςLatest News
Greece Defines Continental Shelf Limits and Maritime Zones in Landmark EU Document
The Maritime Spatial Planning (MSP) framework represents a comprehensive approach to spatial planning and is crucial for the successful development of a blue and circular economy
EU Praises Greece’s RRF Progress as Revised Recovery Plan Nears Completion
Athens is preparing to submit its revised “Greece 2.0” Recovery and Resilience Plan after Easter, with a slight delay from the initial timeline but with the European Commission’s approval.
Greek €200M 10Y Bond to be Issued on April 16
The 3.875% fixed-interest-rate bond matures on March 12, 2029, and will be issued in dematerialized form. According to PDMA, the goal of the re-issuance is to meet investor demand and to enhance liquidity in the secondary bond market.
German Ambassador to Greece Talks Ukraine, Rise of Far Right & Tariffs at Delphi Economic Forum X
Commenting on the political developments in his country, the German Ambassador stressed that it was clear the rapid formation of a new government was imperative, as the expectations across Europe showed.
Athens to Return Confiscated License Plates Ahead of Easter Holiday
Cases involving court orders will also be excluded from this measure.
Servicers: How More Properties Could Enter the Greek Market
Buying or renting a home is out of reach for many in Greece. Servicers propose faster processes and incentives to boost property supply and ease the housing crisis.
Greek Easter 2025: Price Hikes on Lamb, Eggs & Sweets
According to the Greek Consumers’ Institute, hosting an Easter dinner for eight now costs approximately €361.95 — an increase of €11 compared to 2024.
FM Gerapetritis Calls for Unified EU Response to Global Crises at EU Council
"Europe is navigating through unprecedented crises — wars, humanitarian disasters, climate emergencies," he stated.
Holy Week Store Hours in Greece
Retail stores across Greece are now operating on extended holiday hours for Holy Week, following their Sunday opening on April 13. The move aims to accommodate consumers ahead of Easter, but merchants remain cautious amid sluggish market activity.
Green Getaway Ideas for Easter 2025 in Greece
Celebrate Easter 2025 in Greece the sustainable way with eco-farms, car-free islands, and family-friendly getaways rooted in nature and tradition.
