TotalEnergies Nearing €2 Billion Deal for VSB Group: Report
French energy giant TotalEnergies is reportedly close to acquiring Germany-based renewable energy developer VSB Group for approximately €2 billion ($2.10 billion), according to Bloomberg News. The deal would see TotalEnergies purchase VSB from private equity firm Partners Group.
Both TotalEnergies and Partners Group declined to comment, and VSB Group has yet to respond to requests for confirmation.
VSB Group’s Renewable Portfolio
VSB Group boasts a renewable energy project pipeline exceeding 10 gigawatts (GW) across 10 countries, primarily in Europe. The company also provides operational services for approximately 1.4 GW of installed renewable plants, making it a significant player in the sector.
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TotalEnergies’ Renewable Energy Expansion
TotalEnergies currently operates 24 GW of gross installed renewable capacity. The acquisition of VSB would support its ambitious goals of adding 11 GW of capacity by 2025 and achieving 100 GW by 2030.
Last week, TotalEnergies CEO Patrick Pouyanne reaffirmed the company’s commitment to its renewable energy targets, even after pausing future business with Adani Green Energy. Adani had previously played a significant role in TotalEnergies’ renewable energy ventures.
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A Divergence from Industry Trends
Unlike many of its European peers, TotalEnergies continues to invest aggressively in renewables. Other energy majors have scaled back renewable energy commitments, citing declining profitability and supply chain challenges. This deal highlights TotalEnergies’ strategy of expanding its green energy portfolio, positioning itself as a leader in the energy transition.
If finalized, the acquisition would mark another significant step in TotalEnergies’ efforts to diversify its energy mix and secure its position in the fast-growing renewable energy market.
