TotalEnergies takes full control of renewables company

TotalEnergies has acquired the full ownership of renewable energy company Total Eren, raising its stake from 30%

TotalEnergies has today announced it is acquiring full ownership of renewable energy developer Total Eren, a move that is expected to strengthen the energy giant’s position in the sector.

The transaction values Total Eren at €3.8 billion (£3.2bn), with TotalEnergies investing around €1.5 billion (£1.2bn) for the 70.8% stake.

Total Eren currently operates 3.5GW of renewable capacity worldwide and has a pipeline of over 10GW in various countries.

The move is expected to boost TotalEnergies’ net operating income and cash flow.

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