TotalEnergies closes three international acquisitions of renewable portfolios

TotalEnergies is also entering new deals with renewables developer, RES, with a view to acquiring renewables projects in Alberta, Canada, and the closing of a first project acquisition.

TotalEnergies’ acquisition of VSB strengthens the company’s integrated electricity business in Germany, which represents half of VSB’s portfolio, adding to the acquisitions of battery storage developer, Kyon Energy, and energy manager, Quadra Energy, as well as the company’s offshore wind positions in the country.

VSB’s more than 15 GW pipeline will also increase TotalEnergies’ renewables pipeline in Europe to over 40 GW of capacity, in addition to the 7 GW already in operation or under construction. Given its targeted strategy for certain key European markets, the company has decided to start the divestment process for the VSB-developed Puutionsaari project in Finland (440 MW wind and solar).

Additionally, TotalEnergies has closed the acquisition of SN Power and is pursuing the implementation of its multi-energy strategy, particularly in Uganda.

The acquisition of SN Power will allow TotalEnergies to implement its multi-energy strategy in Uganda, where the company is already active in exploration and production. The Bujagali hydropower plant (225 MW), for example, meets more than 25% of the country’s peak electricity demand. The transaction gives TotalEnergies a 28.3% stake in Bujagali, currently operating in Uganda, and a stake in two other projects under development in Rwanda (206 MW) and Malawi (360 MW). The deal also gives TotalEnergies a team of hydropower development experts, strengthening its competencies in this field.

Lastly, TotalEnergies has signed agreements with RES to acquire wind and solar projects under development in Alberta and has closed the acquisition of a solar farm in the region, amounting to a total capacity of more than 800 MW. TotalEnergies has also closed the acquisition of Big Sky Solar (184 MW), a solar facility in Alberta that was commissioned at the end of February 2025. More than two-thirds of the electricity produced by Big Sky Solar will be sold under a long-term power purchase agreement. The remainder will be sold on the electricity market by TotalEnergies, which will also sell the carbon credits generated by the facility under Alberta’s regulated carbon emissions programme.

Stéphane Michel, President, Gas, Renewables and Power at TotalEnergies, commented: “The completion of these three acquisitions in Europe, North America, and Africa will contribute to our targets of 35 GW of gross renewable capacity by 2025 and over 100 TWh of electricity production by 2030. These acquisitions strengthen our operations in markets where we are deploying our integrated power business, such as in Germany and North America and in countries, like Uganda, where we can leverage synergies with our exploration and production activities.”

 

 

For more news and technical articles from the global renewable industry, read the latest issue of Energy Global magazine.

Energy Global’s Spring 2025 issue

The first issue of 2025 is here! The Spring issue of Energy Global starts with a guest comment by Tim Reid from UK Export Finance about expanding operations overseas before a regional report from Aurora Energy Research no the effect of negative electricity prices in Europe. Other interesting topics covered in the issue include electrical infrastructure, sit surveys & mapping, developments in solar, and much more. Featuring contributions from key industry leaders such as EM&I, DeterTech, and Global Underwater Hub, among others, don’t miss the valuable insights available in the Spring 2025 issue.

Read the article online at: https://www.energyglobal.com/solar/03042025/totalenergies-closes-three-international-acquisitions-of-renewable-portfolios/