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TotalEnergies Strengthens Global Renewable Portfolio with Strategic Acquisitions Across Europe, Africa, and North America

TotalEnergies has announced the completion of several key acquisitions and agreements as part of its strategic push toward becoming a global leader in renewable energy. The company confirmed the successful acquisition of VSB Group (a major European solar and wind developer) and SN Power (a hydropower player active in Africa), with both deals finalized in 2024. These additions play a critical role in TotalEnergies’ broader target of reaching 35 GW of gross renewable capacity by 2025 and over 100 TWh of net electricity production by 2030.

In Europe, the VSB acquisition—particularly its 15 GW pipeline, half of which is based in Germany—greatly expands TotalEnergies’ onshore renewables and complements its recent investments in Kyon Energy, Quadra Energy, and German offshore wind assets. The company has also divested from the 440 MW Puutionsaari wind-solar project in Finland to streamline operations.

In Africa, acquiring SN Power bolsters TotalEnergies’ hydropower expertise and provides a 28.3% stake in the 225 MW Bujagali plant in Uganda, which supplies over a quarter of the country’s electricity. It also includes developing projects in Rwanda and Malawi, reinforcing the company’s multi-energy strategy across the continent.

In North America, TotalEnergies partnered with RES to acquire more than 800 MW of renewable projects in Alberta, Canada, and finalized the acquisition of the 184 MW Big Sky Solar plant, which began operations in February 2025. Most of its power is committed under a long-term PPA, and the carbon credits will be marketed under Alberta’s regulated program.

These developments align with TotalEnergies’ net zero by 2050 vision, combining solar, wind, CCGT, and storage solutions to build a resilient, flexible, and cost-competitive electricity portfolio, while targeting 12% profitability in the power segment.