French energy major TotalEnergies has exited Europe’s distributed solar market after completing the sale of its portfolio of small-scale solar generation assets across several countries.

The divestment covers approximately 170 megawatts of distributed solar capacity, comprising mainly rooftop solar installations with capacities of less than 3 MW. The assets are located across France, Belgium, the Netherlands, Spain, Portugal, the United Kingdom and Luxembourg.

The portfolio has been acquired by renewable energy companies Amarenco and AMPYR Distributed Energy, which will assume ownership and operation of the assets. Financial details of the transaction were not disclosed.

TotalEnergies said the sale forms part of its strategy to focus on developing and operating larger utility-scale renewable energy projects. The company intends to direct more investment towards large solar and wind projects, where it expects to achieve greater scale and efficiency.

The company stressed that the divestment does not signal a slowdown in its renewable energy ambitions. Instead, it said the move will allow it to accelerate growth in utility-scale renewable generation as it works towards expanding its global clean energy portfolio.

TotalEnergies currently has around 35 gigawatts of gross renewable electricity generation capacity and is targeting more than 75 GW by 2030 as part of its long-term energy transition strategy.