French multinational integrated energy and petroleum company TotalEnergies has acquired three renewable energy portfolios across Europe, Africa and North America.
In Europe, TotalEnergies has completed the purchase of VSB, enhancing its electricity business, especially in Germany.
Go deeper with GlobalData
This acquisition adds more than 15GW to the company’s renewable energy pipeline, boosting its total European capacity to above 40GW.
The French company also has 7GW of capacity in operation or under construction.
TotalEnergies has begun divesting the 440MW Puutionsaari hybrid wind and solar project in Finland, which was developed by VSB.
On the African continent, TotalEnergies has finalised the acquisition of hydropower company SN Power.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataThis deal is a strategic element in TotalEnergies’ multi-energy strategy, with a particular focus on Uganda where the company already has a stake in exploration and production.
The acquisition gives TotalEnergies a 28.3% share in the operational Bujagali hydro project and interests in new projects under development in Rwanda and Malawi.
The SN Power acquisition also strengthens TotalEnergies’ expertise in hydropower. The company now holds stakes in projects totalling 206MW in Rwanda and 360MW in Malawi, further expanding its renewable energy footprint in Africa.
In North America, TotalEnergies has finalised the acquisition of a solar farm in Alberta, Canada, and signed agreements for further wind and solar projects in the region.
The company has completed the purchase of the Big Sky Solar facility, which has a capacity of 184MW.
The Big Sky Solar facility will sell more than two-thirds of its electricity through a long-term power purchase agreement.
The remainder will be sold in the open market, and TotalEnergies will also monetise the carbon credits generated by the facility under Alberta’s regulated carbon emissions scheme.
TotalEnergies gas, renewables and power president Stéphane Michel stated: “The completion of these three acquisitions in Europe, North America and Africa will contribute to our targets of 35GW of gross renewable capacity by 2025 and over 100TWh (terawatt hours) 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.”
In March 2025, TotalEnergies unveiled its plan to invest €160m in six battery storage projects in Germany.
