TotalEnergies has signed an agreement to acquire VSB Group, a Germany-based renewable energy project developer, from Partners Group for €1.57 billion (equity value and shareholder loan). VSB Group, a leader in onshore wind development with nearly 30 years of experience, has delivered over 2 GW of capacity across Europe. The company operates 475 MW of renewable capacity, primarily in Germany and France, and has a robust pipeline of 18 GW in wind, solar, and battery storage projects concentrated in Germany, Poland, and France.
This acquisition aligns with TotalEnergies’ Integrated Power strategy, enhancing its renewable energy footprint in Germany, where half of VSB’s portfolio is based. It also complements recent acquisitions such as Kyon Energy, a battery storage developer, and Quadra Energy, an energy manager, as well as TotalEnergies’ existing offshore wind projects in northern Germany. Additionally, the move solidifies the company’s top-three position in renewable power generation in France.
The transaction is subject to approval by relevant merger control authorities.
In a separate deal, TotalEnergies has partnered with funds managed by Apollo (NYSE: APO) to sell a 50% stake in a 2 GW portfolio of sand battery energy storage systems (BESS) in Texas. This transaction will generate $800 million for TotalEnergies, comprising $550 million n equity from Apollo and $250 million through shareholder loan refinancing.
The portfolio includes three solar projects with a combined capacity of 1.7 GW and two battery storage projects totaling 300 MW. TotalEnergies will retain a 50% ownership stake and continue to operate the assets, which include Danish Fields, Cottonwood, and Hill Solar I. The electricity generated has either been pre-sold or will be marketed by TotalEnergies.
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