TotalEnergies to acquire 50% stake in power generation assets of EPH for €5.1bn.

TotalEnergies, an integrated multi-energy company, agreed to acquire 50% stake in power generation assets of EPH, a Czech multi-utility company offering power and heat generation and distribution, gas transmission and storage services, for €5.1bn. "This acquisition marks another major milestone in TotalEnergies’ strategy to build an integrated electricity player in Europe. By joining forces with EPH as part of a long-term partnership, we are accelerating the implementation of our Integrated Power strategy and strengthening our ability to provide reliable, competitive, and low-carbon energy to our customers by leveraging the complementarity of our renewable and flexgen portfolio. Given our position as the #1 gas supplier in Europe, this transaction enables us to fully capitalize on gas-to-power integration and create added value for our LNG chain, independently of oil cycles. We are convinced that this partnership will create lasting value for our shareholders and are also pleased to welcome a new long-term European shareholder who is fully committed to TotalEnergies’ transition strategy," Patrick Pouyanné, TotalEnergies Chairman and CEO.