Integrated Power & Renewables: TotalEnergies Implements its Strategy of Capital Recycling with an Acquisition in Germany and a Farm Down in the US
TotalEnergies (TTE) announces two strategic transactions in its renewable energy portfolio: the acquisition of VSB Group in Germany for €1.57 billion and the sale of 50% stake in a 2 GW solar and battery storage portfolio in Texas to Apollo for $800 million.
VSB Group, with 500 employees and 30 years of experience, brings 475 MW of operational/under-construction capacity and an 18 GW pipeline across Germany, Poland, and France. This acquisition strengthens TotalEnergies' position in Germany and complements recent acquisitions of Kyon Energy and Quadra Energy.
The U.S. transaction includes three solar projects (1.7 GW) and two battery storage projects (300 MW). TotalEnergies will retain 50% ownership and continue operating the assets. These moves align with TotalEnergies' strategy to optimize capital allocation in renewables and achieve its 12% profitability target for the Integrated Power business.
TotalEnergies (TTE) annuncia due operazioni strategiche nel suo portafoglio di energie rinnovabili: l'acquisizione del VSB Group in Germania per 1,57 miliardi di euro e la vendita del 50% di una partecipazione in un portafoglio di energia solare e stoccaggio di batterie da 2 GW in Texas ad Apollo per 800 milioni di dollari.
Il VSB Group, con 500 dipendenti e 30 anni di esperienza, porta con sé una capacità operativa e in costruzione di 475 MW e un pipeline di 18 GW in Germania, Polonia e Francia. Questa acquisizione rafforza la posizione di TotalEnergies in Germania e completa le recenti acquisizioni di Kyon Energy e Quadra Energy.
La transazione negli Stati Uniti include tre progetti solari (1,7 GW) e due progetti di stoccaggio di batterie (300 MW). TotalEnergies manterrà il 50% della proprietà e continuerà a gestire gli asset. Queste mosse si allineano con la strategia di TotalEnergies di ottimizzare l'allocazione del capitale nelle energie rinnovabili e raggiungere il suo obiettivo di redditività del 12% per la divisione Integrated Power.
TotalEnergies (TTE) anuncia dos transacciones estratégicas en su cartera de energías renovables: la adquisición del VSB Group en Alemania por 1,57 mil millones de euros y la venta del 50% de una participación en un portafolio de energía solar y almacenamiento de baterías de 2 GW en Texas a Apollo por 800 millones de dólares.
VSB Group, con 500 empleados y 30 años de experiencia, aporta 475 MW de capacidad operativa/en construcción y un pipeline de 18 GW en Alemania, Polonia y Francia. Esta adquisición refuerza la posición de TotalEnergies en Alemania y complementa las recientes adquisiciones de Kyon Energy y Quadra Energy.
La transacción en EE. UU. incluye tres proyectos solares (1,7 GW) y dos proyectos de almacenamiento de baterías (300 MW). TotalEnergies mantendrá el 50% de la propiedad y continuará operando los activos. Estos movimientos están alineados con la estrategia de TotalEnergies de optimizar la asignación de capital en energías renovables y alcanzar su objetivo de rentabilidad del 12% para el negocio de Integrated Power.
TotalEnergies (TTE)는 재생 에너지 포트폴리오에서 두 가지 전략적 거래를 발표했습니다: 독일의 VSB Group 인수에 15억 7천만 유로를 투자하고, 텍사스의 2 GW 태양광 및 배터리 저장 포트폴리오에서 아폴로에 8억 달러로 50% 지분을 매각하는 것입니다.
VSB Group은 500명의 직원을 보유하고 30년의 경험을 가지고 있으며, 독일, 폴란드, 프랑스 전역에서 475 MW의 운영 중 및 건설 중 용량과 18 GW의 파이프라인을 제공합니다. 이 인수는 TotalEnergies의 독일 내 입지를 강화하고 Kyon Energy 및 Quadra Energy의 최근 인수를 보완합니다.
미국 거래에는 세 개의 태양광 프로젝트(1.7 GW)와 두 개의 배터리 저장 프로젝트(300 MW)가 포함됩니다. TotalEnergies는 50%의 소유권을 유지하며 자산 운영을 계속할 것입니다. 이러한 움직임은 재생 가능 에너지에 대한 자본 할당을 최적화하고 통합 전력 사업의 12% 수익성 목표를 달성하려는 TotalEnergies의 전략과 일치합니다.
TotalEnergies (TTE) annonce deux transactions stratégiques dans son portefeuille d'énergies renouvelables : l'acquisition du VSB Group en Allemagne pour 1,57 milliard d'euros et la vente d'une participation de 50 % dans un portefeuille solaire et de stockage de batteries de 2 GW au Texas à Apollo pour 800 millions de dollars.
Le VSB Group, avec 500 employés et 30 ans d'expérience, apporte une capacité opérationnelle et en construction de 475 MW et un pipeline de 18 GW à travers l'Allemagne, la Pologne et la France. Cette acquisition renforce la position de TotalEnergies en Allemagne et complète les récentes acquisitions de Kyon Energy et Quadra Energy.
La transaction américaine comprend trois projets solaires (1,7 GW) et deux projets de stockage de batteries (300 MW). TotalEnergies conservera 50 % de la propriété et continuera à exploiter les actifs. Ces mouvements s'alignent sur la stratégie de TotalEnergies visant à optimiser l'allocation du capital dans les énergies renouvelables et à atteindre son objectif de rentabilité de 12 % pour l'activité Integrated Power.
TotalEnergies (TTE) kündigt zwei strategische Transaktionen in seinem Portfolio für erneuerbare Energien an: die Übernahme der VSB Group in Deutschland für 1,57 Milliarden Euro und den Verkauf eines 50%-Anteils an einem 2 GW Solarkraftwerk und Batteriespeicherportfolio in Texas an Apollo für 800 Millionen Dollar.
Die VSB Group, die 500 Mitarbeiter und 30 Jahre Erfahrung hat, bringt 475 MW an operativer und im Bau befindlicher Kapazität sowie ein Pipeline von 18 GW in Deutschland, Polen und Frankreich mit. Diese Übernahme stärkt die Position von TotalEnergies in Deutschland und ergänzt die kürzlichen Übernahmen von Kyon Energy und Quadra Energy.
Die US-Transaktion umfasst drei Solarprojekte (1,7 GW) und zwei Batteriespeicherprojekte (300 MW). TotalEnergies wird 50% des Eigentums behalten und den Betrieb der Anlagen fortsetzen. Diese Schritte stimmen mit der Strategie von TotalEnergies überein, die Kapitalallokation im Bereich erneuerbare Energien zu optimieren und das Ziel einer Rentabilität von 12% im Bereich Integrated Power zu erreichen.
- Acquisition of VSB Group adds 475 MW operational capacity and 18 GW pipeline
- Strategic sale generates $800 million in cash from Apollo transaction
- Maintains operational control of U.S. assets while monetizing 50% stake
- Strengthens market position in Germany and France
- Advances towards 35 GW renewable capacity target by 2025
- Significant capital expenditure of €1.57 billion for VSB acquisition
- Reduction in full ownership of profitable U.S. assets
Insights
The strategic moves announced by TotalEnergies demonstrate significant capital recycling activity, with substantial financial implications. The
The VSB acquisition adds 475 MW of operational capacity and an impressive 18 GW development pipeline, strengthening TotalEnergies' position in key European markets. The transaction's structure, combining equity value and shareholder loans, indicates a well-planned financial strategy to expand renewables presence while managing capital efficiency.
The 50% farm-down in Texas follows the company's stated business model of maximizing asset value post-development, targeting a
These transactions represent a strategic repositioning in key energy markets. The VSB acquisition significantly enhances TotalEnergies' presence in Germany, Europe's largest energy market, while the US deal demonstrates the company's ability to monetize mature assets while retaining operational control. The combined 18 GW development pipeline from VSB, primarily in Germany, Poland and France, provides substantial growth potential in core European markets.
The retention of operational control in the US assets while securing capital from Apollo indicates a sophisticated approach to market participation. The portfolio's mix of solar and battery storage systems is particularly valuable in the Texas market, known for its volatile energy prices and growing renewable penetration. The structure allows TotalEnergies to maintain exposure to potential upside while reducing capital intensity.
This dual-transaction approach positions TotalEnergies strongly in both the European and US renewable markets. The VSB acquisition provides immediate scale in Germany's onshore wind sector, complementing recent moves in battery storage and energy management. The integration of VSB's 500 employees brings valuable expertise in project development and market knowledge.
The company's progress toward its 35 GW target by 2025 and 100 TWh net production by 2030 appears well-supported by these strategic moves. The balanced approach of acquisition and partial divestment demonstrates effective portfolio management while maintaining growth trajectory. The focus on Germany is particularly noteworthy given the country's ambitious renewable energy targets and market size.
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TotalEnergies acquires VSB and strengthens its renewables position in
Germany -
TotalEnergies sells
50% of a 2 GW renewable portfolio inUnited States
TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) announces the signing of an agreement with Swiss asset manager Partners Group for the acquisition of VSB Group, a
VSB is a renewable leader in
This transaction will strengthen TotalEnergies Integrated Power value chain in
The completion of the transaction remains subject to the approval of applicable merger control authorities.
The portfolio consists of three solar projects with a total capacity of 1.7 GW, and two battery storage projects with a capacity of 300 MW. Following this transaction subject to certain conditions precedent, TotalEnergies will retain a
"In line with our strategy, these transactions will enable us to optimize our capital allocation in renewables and contributes to improve the profitability of our Integrated Power business. We welcome the 500 employees of VSB Group and their leading onshore wind expertise in European markets. Their competences and assets will contribute to the development of our Integrated Power strategy in
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TotalEnergies’ Integrated Power business model
TotalEnergies is building a competitive portfolio that combines renewables (solar, onshore wind, offshore wind) and flexible assets (CCGT, storage) to deliver clean firm power to its customers. To achieve its
By the end of 2024, TotalEnergies’ gross renewable electricity generation installed capacity had reached over 24 GW. TotalEnergies will continue to expand this business to reach 35 GW in 2025 and more than 100 TWh of net electricity production by 2030.
About TotalEnergies
TotalEnergies is a global integrated energy company that produces and markets energies: oil and biofuels, natural gas and green gases, renewables and electricity. Our more than 100,000 employees are committed to provide as many people as possible with energy that is more reliable, more affordable and more sustainable. Active in about 120 countries, TotalEnergies places sustainability at the heart of its strategy, its projects and its operations.
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Cautionary Note
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FAQ
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