• TotalEnergies expands renewables business

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      Tracey Biller
  • TotalEnergies has confirmed 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.

    The company has also announced new deals with renewables developer RES aimed at supporting their acquisition of renewables projects in Alberta, Canada.

    The VSB deal strengthens the company’s integrated electricity business in Germany, adding to the recent acquisitions of battery storage developer Kyon Energy and energy manager Quadra Energy. In partnership with RWE, TotalEnergies also has offshore wind positions in Germany. VSB’s more than 15 GW pipeline will also increase the TotalEnergies renewables pipeline in Europe to over 40 GW of capacity. This is in addition to the 7 GW already in operation or under construction.

    The acquisition of SN Power will allow TotalEnergies to implement its multi-energy strategy in Uganda, where it’s already active in exploration and production. The transaction gives TotalEnergies a 28.3% stake in the Bujagali hydropower plant (225 MW), which meets more than 25% of the country’s peak electricity demand, 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.

    Finally, TotalEnergies has signed agreements with RES to acquire certain wind and solar projects. These are under development in Alberta and represent a total capacity of more than 800 MW. The company has also just finalised 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.

    Read the full press release here.

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