TotalEnergies announced on Tuesday the acquisition for 1,500 million euros of the entirety of Total Eren, a company born in 2017 from the merger between the solar activities of Total and those of the company Eren Re. “It represents a net investment of approximately 1,500 million euros.”
A diversified portfolio of projects of more than 10 GW in 30 countries
The operation follows the strategic agreement concluded between the two companies in 2017. It envisioned that TotalEnergies could take control of Total Eren at the end of a five-year period.
Valued at €3.8 billion, Total Eren has 3.5 GW of active assets around the world. It has a diversified portfolio of solar, wind, hydro and storage projects of more than 10 GW in 30 countries, according to the statement. The company has also launched green hydrogen projects in different regions such as North Africa, Latin America, and Australia.
Source: BFM TV
