Capital allocation strategy Olivier Jouny, Renewable Director at TotalEnergies, stated: "We are delighted with this partnership in Portugal, a country where TotalEnergies intends to continue its development in renewables". He added: "In line with our strategy, this transaction allows us to optimise our capital allocation in integrated electricity operations and contributes to improving profitability in the sector". This sale is part of TotalEnergies' business model, which is based on partial divestment of assets to maximise the return on invested capital. By retaining the role of operator, TotalEnergies will be able to continue benefiting from operational income while sharing investment risks with third-party partners. Profile of the Japanese buyers The acquiring Japanese consortium is composed of companies specialised in infrastructure and energy leasing.