Flexible power generation

TotalEnergies strengthens position in European power market with acquisition

De transactie tussen TotalEnergies en EPH omvat een portefeuille van meer dan 14 gigawatt aan gas- en biomassacentrales en batterijopslag. Foto: Shutterstock

TotalEnergies has entered into an agreement with Czech Energetický a průmyslový holding (EPH) to acquire 50 per cent of its Western European flexible power generation portfolio. The parties will launch an equal-share joint venture for this purpose.

The transaction includes a portfolio of more than 14 gigawatts of gas and biomass plants and battery storage in Italy, the UK, Ireland, the Netherlands and France. In addition, 5 GW of new projects are under development. The plants collectively produce around 15 terawatt-hours of electricity per year, rising to an expected 20 TWh by 2030.

With the move, TotalEnergies aims to strengthen its position in the European electricity market. The combination of flexible generation and existing renewable energy operations should help the company better respond to fluctuations in power demand.

The deal has yet to be submitted to the relevant employee representatives and approved by the relevant authorities. If everything is approved, the acquisition is expected to be completed by mid-2026.

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This article was automatically translated from the Dutch language original to English (British).

Author: Nina Koelewijn

Source: MobilityEnergy.com

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