TotalEnergies completed the acquisition of VSB from Partners Group for €1.57bn.

TotalEnergies, a European multinational integrated energy and petroleum company, completed the acquisition of VSB, a renewable energy platform, from Partners Group, a Swiss asset manager, for €1.57bn ($1.6bn). “The completion of these three acquisitions in Europe, North America and Africa will contribute to our targets of 35 GW of gross renewable capacity by 2025 and over 100 TWh of electricity production by 2030. These acquisitions strengthen our operations in markets where we are deploying our Integrated Power business, like Germany and in North America, and in countries, such as Uganda, where we can leverage synergies with our exploration and production activities. Furthermore, these acquisitions will contribute to cash flow growth and to our goal of reaching our 12% profitability target in the electricity segment,” Stéphane Michel, TotalEnergies President of Gas, Renewables and Power.