TotalEnergies Expands Renewable Portfolio with Three Acquisitions
Following the agreements signed in 2024, TotalEnergies has completed three major acquisitions in the renewable energy sector. These include the acquisition of VSB Group, a leading European wind and solar developer with strong operations in Germany, SN Power, a hydropower developer in Africa, and a set of renewable projects in Canada through agreements with RES. These acquisitions mark a significant step forward in TotalEnergies’ strategy to expand its renewable energy portfolio across multiple continents.
Strengthening Renewable Energy in Europe
TotalEnergies has officially closed its acquisition of VSB Group, reinforcing its integrated electricity business, particularly in Germany. This acquisition follows recent investments in the country, including battery storage developer Kyon Energy, energy manager Quadra Energy, and the Company’s offshore wind assets.
VSB brings an extensive pipeline of over 15 GW in wind and solar projects, increasing TotalEnergies’ total renewables pipeline in Europe to more than 40 GW. This addition complements the 7 GW already in operation or under construction across the region. As part of its strategic focus, TotalEnergies has also decided to initiate the divestment of the 440 MW Puutionsaari wind and solar project in Finland, which was developed by VSB.
Expanding Multi-Energy Strategy in Africa
The acquisition of SN Power strengthens TotalEnergies’ multi-energy approach in Africa, particularly in Uganda, where the Company already has significant exploration and production activities. One of the key assets in this transaction is the 225 MW Bujagali hydropower plant, which supplies over 25% of Uganda’s peak electricity demand.
In addition to Bujagali, TotalEnergies has acquired a 28.3% stake in the plant’s operations as well as interests in two other hydropower projects currently under development: a 206 MW project in Rwanda and a 360 MW project in Malawi. The transaction also brings in SN Power’s hydropower development team, further strengthening TotalEnergies’ capabilities in the sector.
Growth in North America: Canadian Renewable Investments
TotalEnergies has also expanded its renewable footprint in North America through agreements with RES, aimed at acquiring wind and solar projects in Alberta. These projects have a combined capacity exceeding 800 MW.
As part of this initiative, TotalEnergies has completed the acquisition of Big Sky Solar, a 184 MW solar farm in Alberta that was commissioned in February 2025. More than two-thirds of the electricity generated by Big Sky Solar will be sold under a long-term power purchase agreement (PPA), with the remaining electricity traded on the market. Additionally, TotalEnergies will manage and sell carbon credits generated by the facility under Alberta’s regulated carbon emissions program.
A Major Step Toward Renewable Energy Goals
These three acquisitions play a crucial role in TotalEnergies’ broader strategy to expand its renewable energy portfolio. Stéphane Michel, President of Gas, Renewables, and Power at TotalEnergies, emphasized their importance in achieving the Company’s renewable energy targets:
“The completion of these acquisitions in Europe, North America, and Africa will help us meet our target of 35 GW of gross renewable capacity by 2025 and over 100 TWh of electricity production by 2030. These transactions strengthen our presence in key markets where we are deploying our Integrated Power business, such as Germany and North America, while also creating synergies in regions like Uganda where we have existing oil and gas operations. Furthermore, these acquisitions will contribute to our cash flow growth and help us reach our 12% profitability goal in the electricity segment.”
By expanding its renewable energy assets and integrating power solutions globally, TotalEnergies continues to position itself as a leader in the transition to sustainable energy sources. These latest acquisitions highlight the Company’s commitment to scaling up its renewable operations while maintaining financial profitability and long-term sustainability.
