M&A moves

Talos Energy sells off low carbon arm to TotalEnergies in $148M deal

Talos Energy announced that it has entered into an agreement for the sale of its wholly owned subsidiary Talos Low Carbon Solutions to TotalEnergies. Photo via Getty Images

A Houston-based company is divesting its low-carbon subsidiary to TotalEnergies, which has its United States headquarters in Houston.

Talos Energy announced that it has entered into an agreement for the sale of its wholly owned subsidiary Talos Low Carbon Solutions LLC to TotalEnergies. The deal is for a purchase price of $125 million plus customary reimbursements, adjustments and retention of cash, which totals approximately $148 million.

According to a news release, Talos plans to use the proceeds from the sale to repay borrowings under its credit facility and for general corporate purposes. The sale includes Talos's entire carbon capture and sequestration business, which includes its three projects along the U.S. Gulf Coast with Bayou Bend CCS, Harvest Bend CCS, and Coastal Bend CCS.

There is an opportunity for additional future cash payments upon achievement of certain milestones at the Harvest Bend or Coastal Bend projects for Talos. More payments can be obtained also upon a sale of the aforementioned projects by TotalEnergies.

"Since TLCS's inception, we have successfully applied our energy expertise as an early mover aimed at developing decarbonization solutions along the U.S. Gulf Coast,” Talos President and CEO Timothy S. Duncan says in a news release. ”Strong market interest during our capital raise provided the strategic option to fully monetize the business to TotalEnergies, an established global leader in CCS development."

Talos Executive Vice President, Low Carbon Strategy and Chief Sustainability Officer Robin Fielder will continue to serve in her role for a transition period before leaving Talos.

"Robin and our entire CCS team did an outstanding job crystallizing value for Talos shareholders for a strong financial return," Duncan continues. "The transaction will further enable Talos to prioritize cash flow generation and optimal capital allocation in our core Upstream business. We are also continuing to explore business development and strategic M&A opportunities."

TotalEnergies is active in the Houston energy transition ecosystem and recently signed on as a partner at Greentown Houston. Last fall, the company also started commercial operations of its new solar farm, Myrtle Solar, just south of Houston.

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A View From HETI

The move marks the company's third expansion in the Houston area in three years. Photo courtesy of PVH

Solar tracking and manufacturing company PV Hardware USA is increasing its production capacity and expanding its Houston facility in an effort to meet growing demands.

The move marks the company's third expansion in the Houston area in three years. PV Hardware reports a 400 percent surge in national market growth over the past three years, as solar-based projects have been pivotal in energy resilience efforts.

PV Hardware plans to increase the capacity at its Houston facility by 42 percent, according to a news release. With the additional capacity, PV Hardware expects a 35 percent increase in production of pre-assembled parts. The company has not announced whether any additional employees will be hired or the costs of expansion.

In September, the company completed its new dedicated pre-assembly facility, which will help migrate difficult assembly into an easier manufacturing setting. The new pre-assembly area will also assist with streamlined field installation, enhanced schedule predictability and reduction of manual labor.

Citybiz reports that the expansion totals approximately 34,200 square feet.

PV Hardware USA aims to make solar installation more efficient. For large-scale solar projects, PV Hardware USA’s pre-assembly process helps to relieve assembly work done by installation teams. According to PV Hardware USA, it reduces the number of on-site components by 70 percent.

“Traditionally, manufacturers pushed the assembly burden onto the jobsite,” Rodolfo Bitar, vice president of business development for PVH USA, told Renewable Energy Magazine. “We ask a different question: what work can be done more efficiently before the equipment ever leaves the factory? By managing the assembly of 188 loose parts per row in our controlled manufacturing environment, we remove field complexity and make installation highly predictable.”

PV Hardware USA produces single-axis solar trackers made in Texas and has supplied over 52 gigawatts of solar trackers worldwide.

“The expanded presence in Texas underscores a long-term commitment: bringing world-class solar expertise to local American manufacturing, supporting communities, and serving as a reliable partner through the clean energy transition,” the company said in the release.

In July of 2025, the company opened its 95,000-square-foot facility, which was the second Houston location following its initial $30 million U.S. manufacturing facility, which, at 50,000 square feet, is one of America's largest solar tracker manufacturing facilities.

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