This includes 500 MW of operating and under-construction solar and wind assets, primarily in Italy and the Netherlands.The deal also includes a 3.5 GW pipeline of solar, wind, and battery storage projects across Italy, the U.K., and Spain.The financial terms of this transaction are not disclosed.The acquisition will boost TotalEnergies’ foothold in Europe. The deal is expected to boost its renewables portfolio to nearly 10 GW of installed or under-construction capacity and 27 GW under development across key markets.Sale Of Renewable Energy Portfolio To KKRSeparately, TotalEnergies completed the sale of a 50% stake in a largely developed 1.2 GW renewable energy portfolio to KKR & Co. Inc. (NYSE:KKR) at an enterprise value of 1.8 billion euros ($1.56 billion).The assets are located in Germany, Spain, France, and Poland, with electricity production either already contracted to third parties or to be marketed by TotalEnergies.The company will retain the remaining 50% ownership and continue operating the assets after the transaction closes, which is expected in 2026, subject to customary closing conditions.Stéphane Michel, President of Gas, Renewables & Power at TotalEnergies, added that the agreement with KKR will support its goal of achieving a 12% ROACE from its Integrated Power business by 2030.Approves Cyprus Cronos Gas Project TotalEnergies CEO Patrick Pouyanné added that Cronos aligns with TotalEnergies’ strategy of prioritizing low-cost and lower-emission projects by leveraging existing processing capacity.The development is also expected to support the company’s LNG growth strategy, with its LNG portfolio targeted to reach 60 Mtpa by 2030.Recent Earnings SnapshotLast week, TotalEnergies reported second-quarter 2026 adjusted EPS of $2.68, missing the consensus of $2.71. Revenue for the quarter came in at $61.77 billion, below the expectations of $69.15 billion.Oil and gas production reached 2.395 Mboe/d, led by new project ramp-ups in Brazil, the U.S. and Libya, which offset Middle East production disruptions.Excluding Middle East disruptions, the company projects third quarter production to grow 3% year over year, while regional impacts could reduce total output by 5%–10%. Refinery utilization is expected at 80%–85%, with SATORP operations expected to return to full capacity by quarter-end. The company reaffirmed its 2026 investment plan of $15 billion.Analyst Consensus & Recent Actions: The stock carries a Hold rating with an average price forecast of $89.50 (with targets ranging from $73.00 to $103.00 across 7 analysts). Recent analyst moves include: