TotalEnergies Acquires $4 Billion Renewables Developer Total Eren

TotalEnergies has acquired renewable energy producer Total Eren, increasing its stake from 30% to 100% at a valuation of €3.8 billion. Total Eren develops, finances and operates renewable energy power plants, including wind, solar and hydro, and has 3.5 GW of renewable capacity in operation globally, with a project pipeline of over 10 GW in 30 countries. The acquisition will enable TotalEnergies to strengthen its renewable activities and reach its goal of installed renewable power generation capacity of 35 GW by 2025 and 100 GW globally by 2030. TotalEnergies has also recently announced an agreement to acquire a 50% stake in Rönesans Enerji and develop renewable projects in Turkey.



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