TotalEnergies to acquire Big Sky Solar project from RES.

TotalEnergies, a European multinational integrated energy and petroleum company, agreed to acquire Big Sky Solar project from RES, an independent renewable energy company and services provider. Financial terms were not disclosed. “We are pleased with the signing of these agreements with RES to acquire over 600 MW of renewables projects under development in Alberta, along with the closing of the Big Sky Solar farm acquisition. These projects will contribute to our targets of 35 GW of gross renewable capacity by 2025 and over 100 TWh of electricity production by 2030. This also strengthens our operations in markets where we are deploying our Integrated Power business, such as in North America. Furthermore, it 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.