The TotalEnergies logo sits on the company's headquarters skyscraper in the La Defense business district near Paris, France, June 26, 2023. REUTERS/Stephanie Lecocq/File Photo

(Reuters) -TotalEnergies will sell 50% of a solar portfolio in North America to investment firm KKR, the energy major said on Monday, adding it will receive $950 million from the sale and bank refinancing.

The sale includes six utility-scale solar assets and 41 distributed generation assets, mostly in the United States, TotalEnergies said in a statement.

The company said that it will sell some of the electricity produced by these assets and keep a 50% stake in the 1.4 gigawatt portfolio, with an enterprise value of $1.25 billion.

The partnership will help the group's expansion in the deregulated North American electricity market, TotalEnergies President of Gas, Renewables & Power Stephane Michel said in a statement.

(Reporting by Alessandro Parodi; Editing by Matt Scuffham)