Latest news with #Puutionsaari
Yahoo
03-04-2025
- Business
- Yahoo
TotalEnergies boosts renewables portfolio with three acquisitions
French multinational integrated energy and petroleum company TotalEnergies has acquired three renewable energy portfolios across Europe, Africa and North America. In Europe, TotalEnergies has completed the purchase of VSB, enhancing its electricity business, especially in Germany. This acquisition adds more than 15GW to the company's renewable energy pipeline, boosting its total European capacity to above 40GW. The French company also has 7GW of capacity in operation or under construction. TotalEnergies has begun divesting the 440MW Puutionsaari hybrid wind and solar project in Finland, which was developed by VSB. On the African continent, TotalEnergies has finalised the acquisition of hydropower company SN Power. This deal is a strategic element in TotalEnergies' multi-energy strategy, with a particular focus on Uganda where the company already has a stake in exploration and production. The acquisition gives TotalEnergies a 28.3% share in the operational Bujagali hydro project and interests in new projects under development in Rwanda and Malawi. The SN Power acquisition also strengthens TotalEnergies' expertise in hydropower. The company now holds stakes in projects totalling 206MW in Rwanda and 360MW in Malawi, further expanding its renewable energy footprint in Africa. In North America, TotalEnergies has finalised the acquisition of a solar farm in Alberta, Canada, and signed agreements for further wind and solar projects in the region. The company has completed the purchase of the Big Sky Solar facility, which has a capacity of 184MW. The Big Sky Solar facility will sell more than two-thirds of its electricity through a long-term power purchase agreement. The remainder will be sold in the open market, and TotalEnergies will also monetise the carbon credits generated by the facility under Alberta's regulated carbon emissions scheme. TotalEnergies gas, renewables and power president Stéphane Michel stated: 'The completion of these three acquisitions in Europe, North America and Africa will contribute to our targets of 35GW of gross renewable capacity by 2025 and over 100TWh (terawatt hours) of electricity production by 2030. 'These acquisitions strengthen our operations in markets where we are deploying our integrated power business, like Germany and in North America, and in countries, such as Uganda, where we can leverage synergies with our exploration and production activities. 'Furthermore, these acquisitions will contribute to cash flow growth and to our goal of reaching our 12% profitability target in the electricity segment.' In March 2025, TotalEnergies unveiled its plan to invest €160m in six battery storage projects in Germany. "TotalEnergies boosts renewables portfolio with three acquisitions" was originally created and published by Power Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Associated Press
02-04-2025
- Business
- Associated Press
Integrated Power: TotalEnergies Closes Three International Acquisitions of Renewable Portfolios
Following the agreements signed in 2024, TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) confirms the closing of its acquisitions of VSB Group, a European wind and solar developer with extensive operations in Germany, and SN Power, which develops hydropower in Africa, particularly Uganda. TotalEnergies is also announcing new deals with renewables developer RES, with a view to acquiring renewables projects in Alberta, and the closing of a first project acquisition. Europe: TotalEnergies has closed the acquisition of VSB, and is strengthening its integrated electricity business, particularly in Germany This deal strengthens TotalEnergies' integrated electricity business in Germany, which represents half of VSB's portfolio, adding to the recent 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). Africa: 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. Canada: TotalEnergies has signed agreements to acquire certain wind and solar projects and closed the acquisition of a solar farm in Alberta The Company has signed agreements with RES to acquire certain wind and solar projects under development in Alberta, amounting to total capacity of more than 800 MW. TotalEnergies has also just closed the acquisition of Big Sky Solar (184 MW), a solar facility in Alberta that was commissioned at the end of February. More than two thirds of the electricity produced by Big Sky Solar will be sold under a long-term power purchase agreement (PPA). 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 program. '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', said Stéphane Michel, President, Gas, Renewables and Power at TotalEnergies. 'These acquisitions strengthen our operations in markets where we are deploying our Integrated Power business, like Germany and in North America, and in countries, such as Uganda, where we can leverage synergies with our exploration and production activities. Furthermore, these acquisitions will contribute to cash flow growth and to our goal of reaching our 12% profitability target in the electricity segment.' *** TotalEnergies and electricity As part of its ambition to get to net zero by 2050, TotalEnergies is building a world class cost-competitive portfolio combining renewables (solar, onshore and offshore wind) and flexible assets (CCGT, storage) to deliver clean firm power to its customers. By the end of 2024, TotalEnergies' gross renewable electricity generation installed capacity had reached 26 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, biogas and low-carbon hydrogen, 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. TotalEnergies is a global integrated energy company that produces and markets energies: oil and biofuels, natural gas, biogas and low-carbon hydrogen, 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. Cautionary Note The terms 'TotalEnergies', 'TotalEnergies company' or 'Company' in this document are used to designate TotalEnergies SE and the consolidated entities that are directly or indirectly controlled by TotalEnergies SE. Likewise, the words 'we', 'us' and 'our' may also be used to refer to these entities or to their employees. The entities in which TotalEnergies SE directly or indirectly owns a shareholding are separate legal entities. This document may contain forward-looking information and statements that are based on a number of economic data and assumptions made in a given economic, competitive and regulatory environment. They may prove to be inaccurate in the future and are subject to a number of risk factors. Neither TotalEnergies SE nor any of its subsidiaries assumes any obligation to update publicly any forward-looking information or statement, objectives or trends contained in this document whether as a result of new information, future events or otherwise. Information concerning risk factors, that may affect TotalEnergies' financial results or activities is provided in the most recent Universal Registration Document, the French-language version of which is filed by TotalEnergies SE with the French securities regulator Autorité des Marchés Financiers (AMF), and in the Form 20-F filed with the United States Securities and Exchange Commission (SEC). INDUSTRY KEYWORD: OTHER ENERGY UTILITIES ENVIRONMENT OIL/GAS SUSTAINABILITY ALTERNATIVE ENERGY ENERGY SOURCE: TotalEnergies SE Copyright Business Wire 2025. PUB: 04/02/2025 08:31 AM/DISC: 04/02/2025 08:32 AM
