TotalEnergies Expands in Europe with Strategic Acquisition

TotalEnergies has acquired 50% of a flexible power generation portfolio from Energetický a průmyslový holding (EPH), marking a significant move in its gas-to-power strategy in Europe. The €5.1 billion all-stock transaction establishes a joint venture covering more than 14 GW of flexible power generation assets, including gas-fired plants and battery systems, across key markets such as Italy, the UK, and the Netherlands. This portfolio is set to expand its annual production from 15 TWh to 20 TWh by 2030.

The acquisition supports TotalEnergies' Integrated Power strategy, enhancing its position in European electricity markets and increasing cash flow by approximately $750 million annually. The transaction is projected to be immediately accretive to TotalEnergies’ shareholders and reduces the company's annual Capex guidance by $1 billion, maintaining a target of 100-120 TWh of electricity generation by 2030.