TotalEnergies SE TTE announced that it has signed an agreement with global investment firm KKR to add 700 megawatts (MW) of solar power assets to their existing 50:50 joint venture in the United States. The transaction is expected to close in 2026, subject to customary conditions, with TTE continuing to operate the assets thereafter.
The deal covers three utility-scale solar projects located in Texas and Ohio, which are expected to reach commercial operation by the first quarter of 2027. The agreement expands the venture's renewable energy portfolio from 1.4 gigawatts (GW) to approximately 2.1 GW following the addition of 700 MW of capacity, assuming no other portfolio changes.
The electricity produced by the projects has already been sold to third parties or will be marketed by TotalEnergies. The portfolio carries an enterprise value of $1.2 billion. The expansion supports TTE's efforts to strengthen its U.S. renewable energy presence and expand its electricity business.
TotalEnergies Strengthens Its Integrated Power Portfolio
TotalEnergies is expanding its low-carbon power portfolio while addressing emissions from existing operations. Net installed power capacity grew 39% to 33.4 GW, while net power production increased 28% in the second quarter of 2026. TTE aims to achieve more than 100 terawatt-hours (TWh) of net electricity production by 2030. The company is developing a portfolio that combines renewable generation with flexible assets, including combined-cycle gas turbine plants and energy storage, to supply electricity to customers.
Renewable Energy Expansion Supports Long-Term Growth
Renewable energy investments help companies diversify their energy portfolios, address rising electricity demand and support the transition to lower-carbon energy sources. Solar and wind projects can also provide long-term electricity sales opportunities, although profitability depends on power prices, operating costs and project financing.
Constellation Energy Corporation CEG is benefiting from renewable energy expansion through long-term power agreements. In September 2026, CEG signed a 15-year agreement with Toyota supporting more than 115 MW of new solar capacity in Texas, generating approximately 246,000 MWh annually.
Clearway Energy, Inc. CWEN owns approximately 13.9 GW of gross generating capacity, including 11.1 GW of wind, solar and battery energy storage capacity across its U.S. operations. Its expanding renewable energy portfolio strengthens its position in the clean energy market.
NextEra Energy, Inc. NEE generates, transmits and distributes electricity across North America. In second-quarter 2026, it added 3.6 GW to its backlog, including 0.7 GW of wind, 0.9 GW of solar and 2.0 GW of battery storage, bringing total backlog to 35.1 GW.
Share Price Movement of TTE
In the past year, shares have rallied 53.1% compared with the industry’s 52% growth.
Image Source: Zacks Investment Research
TTE’s Zacks Rank
TotalEnergies currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
7 Best Stocks for the Next 30 Days
Just released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."
Since 1988, the full list has beaten the market more than 2X over with an average gain of +23.9% per year. So be sure to give these hand picked 7 your immediate attention.
See them now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
TotalEnergies SE Sponsored ADR (TTE): Free Stock Analysis Report
NextEra Energy, Inc. (NEE): Free Stock Analysis Report
Constellation Energy Corporation (CEG): Free Stock Analysis Report
Clearway Energy, Inc. (CWEN): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).