TotalEnergies Completes Acquisition of 50% of EPH's Flexible Power Generation Platform

TotalEnergies SE announced the completion of its acquisition of 50% of EPH's flexible power generation platform in Western Europe, creating TTEP, which becomes the 2nd largest flexible power generation player in Europe. The transaction, originally agreed on November 16, 2025, was approved by all relevant authorities and both companies' boards. As consideration, TotalEnergies issued approximately 95.4 million ordinary shares to EPH, representing about 4.2% of TotalEnergies' share capital, making EPH one of the company's main shareholders. TTEP owns and operates flexible natural gas and biomass-based power plants and battery energy storage systems across Italy, the UK, Ireland, the Netherlands, and France, with total capacity of 14 GW installed or under construction. The joint venture produced close to 30 TWh of electricity in 2025 and has a 5 GW project portfolio for future development.