French oil major TotalEnergies is close to acquiring vertically-integrated renewable developer VSB Group from private equity firm Partners Group for about 2 billion euros ($2.10 billion), Bloomberg News reported Dec. 3.
TotalEnergies and Partners Group declined to comment. VSB Group did not immediately reply to a request for comment.
Germany-based VSB has a renewables project pipeline of more than 10 gigawatts (GW) across 10 countries, mostly in Europe, and provides services for around 1.4 GW of installed plants.
TotalEnergies currently has 24 GW of gross installed renewable capacity, with targets that call for adding 11 GW by next year and reaching 100 GW by 2030.
TotalEnergies CEO Patrick Pouyanne last week told Reuters the company would be able to meet those green targets, despite pausing future business with Adani Green Energy, which has historically contributed heavily to Total's renewables holdings.
The French oil and gas major has been steadily increasing its green portfolio, bucking a trend among European peers to roll back renewable goals amid a drop in profitability and supply chain issues.
Recommended Reading
FERC Approves Enstor’s Salt-Dome Storage Expansion in Mississippi
2025-04-15 - The Mississippi Hub’s total natural gas capacity will reach approximately 56.3 Bcf, Enstor Gas said.
Venture Global’s Calcasieu Pass Begins Shipments to Long-Term Customers
2025-04-15 - Venture Global’s Calcasieu Pass LNG export facility has begun shipments to the project’s long-term customers following an arbitration process that began in 2024.
Amplify, Juniper Amend Merger Terms to Reduce Combined Debt
2025-04-15 - Under the amended merger agreement with Amplify Energy, Juniper Capital will contribute an incremental $10 million in cash to further reduce the net debt of the combined companies.
What's Affecting Oil Prices This Week? (April 14, 2025)
2025-04-14 - Stratas Advisors expect that oil prices will trend upward, in part, because the Trump Administration recently announced exemptions to tariffs for some electronic goods from China.
2025 Hamm Summit Goal: Make US NatGas ‘Hero’ for Powergen
2025-04-11 - Stepping up power for data centers “is a phenomenal opportunity here that our industry has to take advantage of. We have to get this right,” the Hamm Institute for American Energy’s executive director Ann Bluntzer Pullin said.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.