TotalEnergies has confirmed the successful closing of three major acquisitions following agreements signed in 2024, reinforcing its multi-energy strategy and expanding its global renewables footprint. The company completed the acquisition of VSB Group, a European wind and solar developer with significant operations in Germany, and SN Power, a specialist in hydropower development in Africa. Additionally, TotalEnergies announced new agreements with RES to acquire renewable energy projects in Alberta, Canada, alongside the closing of its first project in the region.
Europe: Strengthening the Integrated Electricity Business with the Acquisition of VSB
With the completion of the acquisition of VSB Group, TotalEnergies has significantly bolstered its integrated electricity business in Germany, a market which represents approximately half of VSB’s development portfolio. This move complements the company’s recent investments in battery storage company Kyon Energy and energy trader Quadra Energy, as well as its offshore wind assets in German waters.
The VSB acquisition brings a pipeline exceeding 15 GW, pushing TotalEnergies’ total renewables pipeline in Europe to over 40 GW. In addition to this expansion, the company has initiated the divestment process of the Puutionsaari wind and solar project (440 MW) in Finland, developed by VSB, as part of a strategy to refocus on priority European markets.
Africa: Advancing a Multi-Energy Strategy through SN Power Acquisition
In Africa, TotalEnergies finalised the acquisition of SN Power, a developer focused on hydropower, particularly in Uganda. This move supports the company’s broader multi-energy approach in the region, where it is already active in oil and gas exploration and production. Through the acquisition, TotalEnergies has secured a 28.3 percent stake in the operational 225 MW Bujagali hydropower plant, which supplies over 25 percent of Uganda’s peak electricity demand. The deal also includes stakes in two additional projects under development in Rwanda (206 MW) and Malawi (360 MW), and brings onboard a team of hydropower experts to enhance the company’s capabilities in the sector.
Canada: Expanding Renewables Portfolio in Alberta
In North America, TotalEnergies has signed agreements with RES to acquire more than 800 MW of wind and solar projects in Alberta. The company also closed the acquisition of Big Sky Solar, a 184 MW solar facility commissioned in February 2025. Over two-thirds of the power generated by Big Sky Solar will be sold via a long-term power purchase agreement (PPA), while the remainder will be marketed directly by TotalEnergies. The company will also manage and sell the carbon credits generated by the project under Alberta’s regulated carbon emissions framework.
Strategic Impact on TotalEnergies’ Renewable Ambitions
Commenting on the acquisitions, Stéphane Michel, president of gas, renewables and power at TotalEnergies, stated: “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. These acquisitions strengthen our operations in key markets where we are deploying our Integrated Power business, like Germany and North America, and in countries such as Uganda, where we can leverage synergies with our exploration and production activities. Furthermore, they will contribute to our cash flow growth and support our ambition of achieving a 12 percent profitability target in the electricity segment.”
The acquisitions underscore TotalEnergies’ commitment to accelerating the global energy transition by expanding its presence in strategic markets and investing in diversified renewable energy sources.
For more information visit www.totalenergies.com
