Press release

TotalEnergies Closes Acquisitions of Renewable Portfolios in Alberta, Strengthening our Integrated Power Business in North America

Paris, April 2, 2025 - Following the agreements signed in 2024, TotalEnergies confirms the closing of its acquisitions of VSB Group, a European wind and solar developer with extensive operations in Germany, and SN Power, which develops hydropower in Africa, particularly Uganda. TotalEnergies is also announcing new deals with renewables developer RES, with a view to acquiring renewables projects in Alberta, and the closing of a first project acquisition.

Canada: TotalEnergies has signed agreements to acquire certain wind and solar projects and closed the acquisition of a solar farm in Alberta

The Company has signed agreements with RES to acquire certain wind and solar projects under development in Alberta, amounting to total capacity of more than 800 MW. TotalEnergies has also just closed the acquisition of Big Sky Solar (184 MW), a solar facility in Alberta that was commissioned at the end of February. More than two thirds of the electricity produced by Big Sky Solar will be sold under a long-term power purchase agreement (PPA). The remainder will be sold on the electricity market by TotalEnergies, which will also sell the carbon credits generated by the facility under Alberta’s regulated carbon emissions program.

“The completion of these three acquisitions in Europe, North America and Africa will contribute to our targets of 35 GW of gross renewable capacity by 2025 and over 100 TWh of electricity production by 2030”, said Stéphane Michel, President, Gas, Renewables and Power at TotalEnergies. “These acquisitions strengthen our operations in markets where we are deploying our Integrated Power business, like Germany and in North America, and in countries, such as Uganda, where we can leverage synergies with our exploration and production activities. Furthermore, these acquisitions will contribute to cash flow growth and to our goal of reaching our 12% profitability target in the electricity segment.”
 

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TotalEnergies and electricity

As part of its ambition to get to net zero by 2050, TotalEnergies is building a world class cost-competitive portfolio combining renewables (solar, onshore and offshore wind) and flexible assets (CCGT, storage) to deliver clean firm power to its customers. By the end of 2024, TotalEnergies’ gross renewable electricity generation installed capacity had reached 26 GW. TotalEnergies will continue to expand this business to reach 35 GW in 2025 and more than 100 TWh of net electricity production by 2030.

About TotalEnergies

TotalEnergies is a global integrated energy company that produces and markets energies: oil and biofuels, natural gas, biogas and low-carbon hydrogen, renewables and electricity. Our more than 100,000 employees are committed to provide as many people as possible with energy that is more reliable, more affordable and more sustainable. Active in about 120 countries, TotalEnergies places sustainability at the heart of its strategy, its projects and its operations.

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Cautionary Note
The terms “TotalEnergies”, “TotalEnergies company” or “Company” in this document are used to designate TotalEnergies SE and the consolidated entities that are directly or indirectly controlled by TotalEnergies SE. Likewise, the words “we”, “us” and “our” may also be used to refer to these entities or to their employees. The entities in which TotalEnergies SE directly or indirectly owns a shareholding are separate legal entities. This document may contain forward-looking information and statements that are based on a number of economic data and assumptions made in a given economic, competitive and regulatory environment. They may prove to be inaccurate in the future and are subject to a number of risk factors. Neither TotalEnergies SE nor any of its subsidiaries assumes any obligation to update publicly any forward-looking information or statement, objectives or trends contained in this document whether as a result of new information, future events or otherwise. Information concerning risk factors, that may affect TotalEnergies’ financial results or activities is provided in the most recent Universal Registration Document, the French-language version of which is filed by TotalEnergies SE with the French securities regulator Autorité des Marchés Financiers (AMF), and in the Form 20-F filed with the United States Securities and Exchange Commission (SEC).

Published on 02/04/2025
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