Following agreements formalized in 2024, TotalEnergies has successfully concluded the acquisition of several key players in the renewable energy sector, demonstrating a significant stride towards its ambitious green energy targets. These strategic acquisitions encompass wind and solar development in Europe, hydropower in Africa, and further expansion in the North American renewables market.

In Europe, TotalEnergies has finalized the acquisition of VSB Group, a prominent European wind and solar developer with substantial operations concentrated in Germany. This acquisition significantly bolsters TotalEnergies' integrated electricity business within Germany, a crucial market representing half of VSB’s extensive project portfolio. This move complements TotalEnergies' recent acquisitions of Kyon Energy, a battery storage developer, and Quadra Energy, an energy management firm, alongside the company's established offshore wind positions in the country. VSB’s impressive pipeline of over 15 GW of renewable energy projects will elevate TotalEnergies’ European renewables pipeline to over 40 GW of capacity, adding considerably to the 7 GW already operational or under construction. As part of a focused market strategy in Europe, TotalEnergies has initiated the divestment process for the VSB-developed Puutionsaari project in Finland, which comprises 440 MW of wind and solar capacity.

In Africa, TotalEnergies has completed the acquisition of SN Power, a company specializing in hydropower development, particularly in Uganda. This acquisition is pivotal for TotalEnergies' multi-energy strategy in Uganda, where the company already maintains a presence in exploration and production. The acquisition grants TotalEnergies a 28.3% stake in the operational Bujagali hydropower plant (225 MW), which currently meets over 25% of Uganda’s peak electricity demand. Furthermore, the transaction includes stakes in two additional hydropower projects under development in Rwanda (206 MW) and Malawi (360 MW). Beyond the project assets, the deal brings a team of experienced hydropower development experts into TotalEnergies, enhancing its capabilities in this vital renewable energy source.

Expanding its footprint in North America, TotalEnergies has entered into agreements to acquire specific wind and solar projects in Alberta, Canada, and has already completed the acquisition of the Big Sky Solar facility (184 MW). The agreements with renewables developer RES involve the acquisition of wind and solar projects under development in Alberta, totaling a capacity exceeding 800 MW. The newly acquired Big Sky Solar farm, commissioned in late February, will see over two-thirds of its generated electricity sold under a long-term power purchase agreement (PPA). The remaining electricity will be traded on the open market by TotalEnergies, which will also manage the sale of carbon credits generated by the facility under Alberta’s regulated carbon emissions program.

Stéphane Michel, President of Gas, Renewables and Power at TotalEnergies, emphasized the strategic importance of these acquisitions, stating that "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." He further highlighted that these acquisitions strengthen their operations in key markets where they are building their Integrated Power business, such as Germany and North America, and in countries like Uganda, where synergies with existing exploration and production activities can be leveraged. Moreover, these acquisitions are expected to contribute to cash flow growth and support TotalEnergies' goal of achieving a 12% profitability target within its electricity segment. These recent moves underscore TotalEnergies' commitment to diversifying its energy portfolio and accelerating its transition towards a more sustainable energy future.