TotalEnergies Grows Renewable Portfolio

TotalEnergies has finalized three major acquisitions in Europe, Africa and North America to strengthen its integrated power operations and advance its goal of reaching 35GW of gross renewable capacity by 2025, the company announced.

The company completed the acquisition of VSB Group, a European wind and solar developer with a 15GW pipeline, more than half of which is located in Germany. The deal expands TotalEnergies’ presence in the German market, adding to its previous acquisitions of battery storage developer Kyon Energy and energy manager Quadra Energy, as well as existing offshore wind positions. TotalEnergies’ renewables pipeline in Europe now exceeds 40GW, in addition to 7GW already in operation or under construction. As part of a portfolio adjustment, TotalEnergies will begin divesting the 440MW Puutionsaari wind and solar project in Finland, which had been developed by VSB.

In Africa, TotalEnergies completed the acquisition of SN Power, which focuses on hydropower development. The transaction gives the company a 28.3% stake in the Bujagali hydropower plant in Uganda, which accounts for over 25% of the country’s peak electricity demand. The acquisition also includes stakes in two other hydropower projects under development: one in Rwanda (206MW) and another in Malawi (360MW). The deal adds a team of hydropower development professionals to TotalEnergies’ portfolio, supporting the company’s multi-energy strategy in the region. TotalEnergies is already active in exploration and production in Uganda.

In North America, TotalEnergies signed agreements with renewables developer RES to acquire over 800MW of wind and solar projects in Alberta, Canada. The company also closed the acquisition of Big Sky Solar, a 184MW solar facility in Alberta commissioned in February 2025. More than two-thirds of the power generated at Big Sky Solar will be sold under a long-term power purchase agreement, with the remainder sold on the open market. TotalEnergies will also manage and sell carbon credits generated by the facility under Alberta’s emissions program.

“These acquisitions strengthen our operations in markets where we are deploying our Integrated Power business, like Germany and North America, and in countries, such as Uganda, where we can leverage synergies with our exploration and production activities,” said Stéphane Michel, President of Gas, Renewables and Power, TotalEnergies. The company targets electricity production of more than 100TWh by 2030 and aims to reach a 12% profitability margin in its electricity segment.