TotalEnergies Inked A Deal With Thailand's National Oil And Gas Company PTTEP For 25.5% Equity Stake Sale In The Seagreen Offshore Wind Farm For £522M ($689M)
Portfolio Pulse from Benzinga Newsdesk
TotalEnergies (TTE) has agreed to sell a 25.5% equity stake in the Seagreen Offshore Wind Farm to Thailand's PTTEP for £522 million ($689 million).

December 22, 2023 | 8:34 am
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POSITIVE IMPACT
TotalEnergies sells a 25.5% stake in Seagreen Offshore Wind Farm to PTTEP for £522M, aligning with its strategy to expand in renewables.
The sale of the equity stake in Seagreen Offshore Wind Farm is likely to be viewed positively as it provides TotalEnergies with significant capital that can be reinvested in further renewable projects or used to strengthen its balance sheet. This aligns with the company's strategy to diversify its energy portfolio and increase its presence in the renewable sector, which may be well-received by investors looking for sustainable investment opportunities.
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