TotalEnergies is studying the possibility of selling a 50% stake in a portfolio of renewable energy projects in Europe and the USA, according to two people familiar with the matter.

The French energy group is seeking advisors for the sale of a stake in wind and solar assets in the USA, Spain, Portugal, France and Greece, the sources said.

One of the sources said the portfolio was worth around $2.5 billion in total. The plan is expected to result in several transactions, which could be concluded with several buyers, one of the people said.

TotalEnergies declined to comment.

The renewable energies sector has been impacted by rising raw material and capital costs.

Other energy suppliers and oil companies, such as Enel, Repsol and Iberdrola, have also sold stakes in wind and solar farms to finance new projects.

In December, TotalEnergies sold a 22.5% stake in an offshore wind farm to Thailand's PTT Exploration and Production (PTTEP) for £522 million (€611.44 million).

The French group's low-carbon energy production capacity is far superior to that of its rivals.

Last year, TotalEnergies took full control of the renewable energy company Eren, valued at 3.8 billion euros.

(Reported by Andres Gonzalez and Isla Binnie, with contributions from Benjamin Malet and Dagmarah Mackos, edited by Kate Entringer)

by Andres Gonzalez and Isla Binnie