• Europe: 15 GW of solar and wind projects added, strengthening TotalEnergies’ integrated electricity business in Germany.
• Africa: 255 MW installed in Uganda, with stakes in additional hydropower projects in Rwanda and Malawi.
• Canada: Acquisition of 800 MW in wind and solar projects, including Big Sky Solar (184 MW) in Alberta.

TotalEnergies has finalized three major acquisitions, strengthening its global renewable energy portfolio and reinforcing its multi-energy strategy. The deals span Europe, Africa, and North America, adding significant capacity in solar, wind, and hydropower.

Europe: Strengthening Renewable Capacity in Germany

TotalEnergies has completed the acquisition of VSB Group, a leading European wind and solar developer. With more than 15 GW of renewable projects, this acquisition significantly boosts TotalEnergies’ electricity business, especially in Germany.

The company has been expanding its presence in the region, complementing this deal with recent acquisitions of battery storage developer Kyon Energy and energy manager Quadra Energy, alongside its offshore wind projects in Germany. To optimize its portfolio, TotalEnergies has initiated the divestment of the Puutionsaari project (440 MW) in Finland.

RELATED ARTICLE: TotalEnergies Strengthens Energy Storage in Germany with Kyon Energy Acquisition

Africa: Multi-Energy Expansion in Uganda

With the acquisition of SN Power, TotalEnergies is furthering its commitment to multi-energy development in Uganda. The deal includes:

• Bujagali hydropower plant (225 MW): Supplying over 25% of Uganda’s peak electricity demand.
• 28.3% stake in Bujagali: Strengthening TotalEnergies’ position in the region.
• New hydropower projects: 206 MW in Rwanda and 360 MW in Malawi.

This acquisition provides TotalEnergies with expertise in hydropower development, reinforcing its renewable capabilities in Africa.

Canada: Expanding Solar and Wind Investments

TotalEnergies has signed agreements with RES to acquire wind and solar projects in Alberta, adding more than 800 MW to its renewable portfolio. The company has also finalized the acquisition of Big Sky Solar (184 MW), which began operations in February.

• Two-thirds of Big Sky Solar’s output is secured under a long-term power purchase agreement (PPA).
• The remaining electricity will be sold on the open market, along with carbon credits under Alberta’s regulated emissions program.

Strategic Growth & Profitability Targets

These acquisitions align with TotalEnergies’ ambitious renewable energy targets:

• 35 GW of gross renewable capacity by 2025.
• Over 100 TWh of electricity production by 2030.
• Contribution to the company’s goal of 12% profitability in electricity.

Stéphane Michel, President, Gas, Renewables and Power at TotalEnergies, emphasized the importance of these deals:

“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, 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.”

With these strategic moves, TotalEnergies solidifies its position as a global leader in renewable energy, expanding its footprint in key markets while driving growth and sustainability.

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