TotalEnergies Texas solar and storage portfolio Valuation, Funding & Investors

TotalEnergies Texas solar and storage portfolio is valued at $1.1B as of December 2024.

Last TotalEnergies Texas solar and storage portfolio valuation

$1.1B

Secondary · Dec 2024

Key investors in TotalEnergies Texas solar and storage portfolio

TotalEnergies Texas solar and storage portfolio Overview

About TotalEnergies Texas solar and storage portfolio

The TotalEnergies Texas solar and storage portfolio is a group of utility-scale renewable power assets in the ERCOT market in Texas, operated by TotalEnergies. It comprises about 2 GW of capacity: three solar projects totalling 1.7 GW, including Danish Fields, Cottonwood and Hill Solar I, and two battery energy storage projects with a combined 300 MW. The assets sell electricity and storage services largely under long-term contracts, which give the portfolio contracted revenue. TotalEnergies developed the projects as part of its Integrated Power business and continues to operate them. Since December 2024 the portfolio has been owned 50% by TotalEnergies and 50% by funds managed by Apollo affiliates.


HQ

United StatesUnited States

Status

Privately held

Customer focus

B2B

Revenue model

Product sales

Valuation

$1.1B (Dec 2024)

TotalEnergies Texas solar and storage portfolio Valuation

TotalEnergies Texas solar and storage portfolio is currently valued at $1.1B, based on its secondary sale in December 2024. Read the announcement ↗

The $550M round included Apollo Global Management.

TotalEnergies Texas solar and storage portfolio valuation by funding round

TotalEnergies Texas solar and storage portfolio valuation by funding round
DateStageValuation
Dec 2024Secondary$1.1B

TotalEnergies Texas solar and storage portfolio Funding History

TotalEnergies Texas solar and storage portfolio has 1 recorded secondary share sale and no primary funding rounds.

TotalEnergies Texas solar and storage portfolio funding rounds

TotalEnergies Texas solar and storage portfolio funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Dec 2024SecondaryApollo Global Management$550M$1.1BFunds managed by Apollo affiliates agreed in December 2024 to acquire a 50% stake in a Texas solar and battery energy storage portfolio from TotalEnergies. According to reporting of the deal, TotalEnergies expected to receive about $800 million in cash, comprising $550 million of equity from Apollo and $250 million from the refinancing of a shareholder loan; the transaction was expected to be completed in the fourth quarter of 2024. TotalEnergies kept the other 50% and continues to operate the assets. Apollo partner Brad Fierstein said the investment gave Apollo's Clean Transition strategy a highly contracted, scaled renewable portfolio and supported TotalEnergies' Integrated Power business and capital recycling strategy. The portfolio comprises about 2 GW in Texas's ERCOT market: three solar projects with a total capacity of 1.7 GW, including Danish Fields, Cottonwood and Hill Solar I, and two battery storage projects with a combined 300 MW. Apollo said its funds had deployed about $40 billion into energy transition and sustainability investments over the preceding five years and that it targeted $50 billion of clean energy and climate investments through 2027.

Who has invested in TotalEnergies Texas solar and storage portfolio?

1 investor has backed TotalEnergies Texas solar and storage portfolio across its funding rounds, including Apollo Global Management.


TotalEnergies Texas solar and storage portfolio Investors

Investors in TotalEnergies Texas solar and storage portfolio by funding rounds participated
InvestorHQRoundsRoleFirst check

This data is available for Pro users. Sign up to see all 1 TotalEnergies Texas solar and storage portfolio investors.

Start Free Trial

Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples

Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.

Start Free Trial

TotalEnergies Texas solar and storage portfolio Competitors

TotalEnergies Texas solar and storage portfolio competitors include listed companies like SMA Solar Technology and Fujiyama Power Systems, and private ones like Climeworks, CMBlu Energy AG, Our Next Energy and Ample.

Public and private companies comparable to TotalEnergies Texas solar and storage portfolio
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
SMA Solar TechnologyGermanyGermanyPublicly listed$1.7B($75M)$1.8B0.9x
ClimeworksSwitzerlandZurichPrivate--$1.1B-
CMBlu Energy AGGermanyAlzenauPrivate--$1.2B-
Fujiyama Power SystemsIndiaIndiaPublicly listed$278M$51M$1.2B3.0x
Our Next EnergyUnited StatesDetroit, MIPrivate--$1.2B-
AmpleUnited StatesSan Francisco, CAPrivate--$1B-

TotalEnergies Texas solar and storage portfolio Public Comps

TotalEnergies Texas solar and storage portfolio is still privately-owned, but its public comps include Tamboran Resources, Naturenergie, SP New Energy, Alerion CleanPower, Grupo Cox, Fujiyama Power Systems, Techno Electric & Engineering, Inox Wind, CS Wind and EnergyVision.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Tamboran Resources-($33M)-57.8x(34.0x)(73.5x)
Naturenergie$1.7B$316M0.7x-3.7x5.0x
SP New Energy$25M($46M)107.3x-(57.7x)-
Alerion CleanPower$142M$111M13.9x5.8x17.7x7.9x
Grupo Cox$1.3B$211M4.0x2.1x24.3x11.3x
Fujiyama Power Systems$278M$51M4.4x3.0x24.1x15.9x
Techno Electric & Engineering$332M$61M2.4x2.0x12.9x14.0x
Inox Wind$443M$100M2.9x2.4x13.0x11.7x

This data is available for Pro users. Sign up to see all TotalEnergies Texas solar and storage portfolio competitors and their valuation data.

Start Free Trial

Common questions about TotalEnergies Texas solar and storage portfolio

Where is TotalEnergies Texas solar and storage portfolio headquartered?TotalEnergies Texas solar and storage portfolio is headquartered in United States.
Is TotalEnergies Texas solar and storage portfolio publicly listed?No, TotalEnergies Texas solar and storage portfolio is a private, VC-backed company.
What is TotalEnergies Texas solar and storage portfolio's valuation?TotalEnergies Texas solar and storage portfolio was last valued at $1.1B in its secondary sale in December 2024.
Who are TotalEnergies Texas solar and storage portfolio's investors?TotalEnergies Texas solar and storage portfolio's investors include Apollo Global Management.
Which companies are comparable to TotalEnergies Texas solar and storage portfolio?Companies comparable to TotalEnergies Texas solar and storage portfolio include SMA Solar Technology, Climeworks, CMBlu Energy AG, Fujiyama Power Systems, Our Next Energy and Ample.

See companies similar to TotalEnergies Texas solar and storage portfolio

Start Your
Free Trial Today

Try Multiples for free for 3 days. Got questions or need a demo? Schedule a call with us below.

Start Trial