TotalEnergies has plans to buy out Total Eren’s other shareholders, increasing its stake from close to 30 percent to 100 percent. The Total Eren teams will be fully integrated within TotalEnergies’ Renewables business unit. The deal follows the strategic agreement signed between TotalEnergies and Total Eren in 2017, which granted TotalEnergies the right to acquire all of Total Eren (formerly EREN RE) after a five-year period.
As part of this transaction, Total Eren is valued at an Enterprise Value of €3.8 billion ($4.2 billion).
Total Eren has 3.5 gigawatts (GW) of renewable capacity in operation worldwide and a solar, wind, hydroelectric and storage projects pipeline of more than 10 GW in 30 countries, of which 1.2 GW are in construction or late-stage development.
Further to its activities as a renewable energy producer, Total Eren has launched pioneering green hydrogen projects in recent years, located in various regions, such as North Africa, Latin Amer