BAKU, Azerbaijan, December 4. TotalEnergies has agreed to acquire VSB Group, a Germany-based renewable energy developer, for 1.57 billion euros, Trend reports.
VSB has a strong presence in Europe with 2 GW of developed onshore wind capacity, 475 MW of renewable capacity in operation or construction, and an 18 GW pipeline spanning Germany, Poland, and France. This acquisition strengthens TotalEnergies' integrated power value chain in Germany and consolidates its renewable energy leadership in France.
Separately, TotalEnergies has signed an agreement with funds managed by Apollo for the sale of a 50% stake in a 2 GW solar and battery energy storage portfolio in Texas. The deal, valued at $800 million, includes three solar projects (1.7 GW) and two battery storage projects (300 MW). TotalEnergies will remain a 50% stakeholder and the operator of these assets.
These transactions align with TotalEnergies’ strategy to optimize capital allocation and enhance profitability in its Integrated Power business. Stéphane Michel, president of Gas, Renewables, and Power at TotalEnergies, emphasized the importance of these moves in advancing the company’s renewable energy objectives in Europe and the US. Completion of the deals is subject to regulatory approvals and conditions.