TotalEnergies Acquires Power Platform, Boosts Renewable Ambitions

TotalEnergies, a French energy giant, is expanding into power and renewable energy, acquiring a 50% stake in a Western European power generation platform from EPH for €5.1 billion. This deal doubles their gas and biomass generation capacity, boosting cash flow and reducing capital spending. Despite industry shifts, TotalEnergies aims to triple their renewable power generation to 100 gigawatts by 2030, demonstrating a balanced energy portfolio commitment.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.