Integrated Power & Renewables: TotalEnergies Implements its Strategy of Capital Recycling with an Acquisition in Germany and a Farm Down in the US
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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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Source: TotalEnergies SE