(Energy Analytics Institute, 4.Dec.2024) — TotalEnergies signed an agreement with Partners Group, one of the largest firms in the global private markets industry, to buy VSB Group, a Germany based renewable energy project developer for a consideration of €1.57bn, equity value and shareholder loan.
The deal strengthens TotalEnergies Integrated Power value chain in Germany, which represents half of VSB’s portfolio, the France based company said 4 Dec. 2024 in an official statement.
The transaction will enable us to optimize our capital allocation in renewables and contributes to improve the profitability of our Integrated Power business, TotalEnergies president of Gas, Renewables and Power Stéphane Michel said in the statement.
“We welcome the 500 employees of VSB Group and their leading onshore wind expertise in European markets. Their competences and assets will contribute to the development of our Integrated Power strategy in Europe, and notably in Germany,” Michel said.
The deal complements TotalEnergies’ recent purchase of battery storage developer Kyon Energy and energy manager Quadra Energy, as well as TotalEnergies’ major offshore wind positions in northern Germany. In addition, the deal reinforces TotalEnergies’ top 3 position in renewable power in France.
The completion of the transaction is subject to the approval of applicable merger control authorities, TotalEnergies said in the statement.
VSB impact
VSB is a renewable leader in Europe with nearly 30 years of experience. The company has 500 employees, and has built a recognized expertise and notable track record in the development of onshore wind power farms across Europe (over 2 GW of developed capacity).
VSB has over 475 MW of renewable capacity in operation or under construction mainly in Germany and France. Additionally, VSB has a pipeline of 18 GW of wind, solar and battery storage technologies mainly across Germany, Poland and France.
____________________
By Editors at Energy Analytics Institute. © Energy Analytics Institute (EAI). All Rights Reserved.
