TotalEnergies has closed the acquisition of two renewable energy developers, gaining a portfolio of over 17 GW of renewable energy projects in different stages of development. The agreements to acquire the European wind and solar developer VSB Group and the African hydropower developer SN Power were signed in 2024 strengthening its presence in Germany and Uganda in particular.
The acquisition of VSB consists of 500 MW of installed or under construction projects and a pipeline of more than 15 GW of solar and wind projects; TotalEnergies plans to sell the VSB-developed 440 MW Puutionsaari hybrid wind and solar project in Finland. On the other hand, SN Power’s acquisition gives TotalEnergies a 28.3% stake in the 255 MW Bujagali hydropower plant in Uganda and a stake in two other projects under development in Rwanda (206 MW) and Malawi (360 MW).
In addition, TotalEnergies has also signed agreements with Canadian RES to acquire an 800 MW portfolio of wind and solar projects under development in Alberta (Canada), including the acquisition of 184 MW Big Sky Solar facility which was commissioned in February 2025.
TotalEnergies targets to achieve 35 GW of gross renewable capacity by 2025 and over 100 TWh of electricity production by 2030.
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