- Published: 25 July 2023 25 July 2023
TotalEnergies has announced that it is buying out Total Eren’s other shareholders, increasing its stake from close to 30% to 100%. The Total Eren teams will be fully integrated within TotalEnergies’ Renewables business unit.
The deal follows the strategic agreement signed between TotalEnergies and Total Eren in 2017, which granted TotalEnergies the right to acquire all of Total Eren (formerly EREN RE) after a five-year period. As part of this transaction, Total Eren is valued at an Enterprise Value of €3.8 billion. The acquisition of 70,8%1 represents a net investment of around €1.5 billion for TotalEnergies. Total Eren has 3.5 GW of renewable capacity in operation worldwide and a solar, wind, hydroelectric and storage projects pipeline of over 10 GW in 30 countries, of which 1.2 GW are in construction or late-stage development.