TotalEnergies reportedly weighs options for Asian renewable assets

[TotalEnergies company logo at petrol station]
Robert Way/iStock Editorial via Getty Images

TotalEnergies SE (TTE [https://seekingalpha.com/symbol/TTE]) is considering selling some renewable energy assets in Asia to help reduce debt, people familiar with the matter told _Bloomberg News. _

The French group is working with an adviser and sounding out interest from potential buyers, according to the people, who asked not to be identified because the deliberations are private.

The assets for sale could be valued at several hundred million dollars, the report added.

TotalEnergies (TTE [https://seekingalpha.com/symbol/TTE]) has said before that it might reduce its 19% stake in India's Adani Green Energy.

In September, Stephane Michel, president of the company’s gas, renewables, and power division, said the Paris-listed firm plans to divest all renewable power holdings except those in the United States, Brazil, and Europe.

The company plans to cut annual capital spending by $1 billion, reducing it to $15–17 billion a year between 2027 and 2030.

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