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TotalEnergies steps on the gas in Europe with gas-to-power acquisitions
3/12/2025
News
TotalEnergies of France is pursuing a gas-to-power integration strategy in Europe by acquiring a portfolio of power generation assets from Czechia energy company Energetický a Průmyslový Holding (EPH).
TotalEnergies has agreed to acquire a 50% stake in EPH’s Western Europe portfolio, including gas-fired and biomass power plants as well as battery energy storage systems (BESS). The deal, which covers both assets in operation and under construction in Italy, the UK, Ireland, the Netherlands and France, has been valued at €10.6bn in total. As part of the transaction, TotalEnergies will issue 95.4 million new shares to EPH, worth €5.1bn, making the Czechia company one of its largest shareholders, with approximately 4.1% of its share capital.
The joint venture will have over 14 GW of assets, of which about 5 GW are under construction. It will operate the portfolio under shared industrial management, with each company marketing its share of production under a tolling arrangement.
The assets include:
- Italy: 7.5 GW, with 3.7 GW in operation and 2.4 GW under construction, including two gas-fired power plants that TotalEnergies says are ‘among the most efficient in Europe’, and 1.4 GW under development.
- UK and Ireland: 7.1 GW, including 5 GW from operating gas and biomass plants, 0.4 GW of BESS under construction and 1.7 GW under development.
- Netherlands: 3.6 GW, with 2.6 GW from gas-fired plants, 0.2 GW from BESS under construction and 0.8 GW under development.
- France: 1.1 GW, with 100 MW of BESS under construction and 1 GW under development.
TotalEnergies says the deal will strengthen its position in European electricity markets, will enable it to develop its ‘clean firm power offering’ to customers, and will position the company as a key player to meet Europe’s growing data centre demand.
Patrick Pouyanné, Chairman and CEO of TotalEnergies, adds: ‘Given our position as the #1 gas supplier in Europe, this transaction enables us to fully capitalise on gas-to-power integration and create added value for our LNG chain, independently of oil cycles.’
TotalEnergies’ power generation portfolio includes renewables (solar, onshore and offshore wind) and flexible assets (combined cycle gas turbine (CCGT) plant, storage). As of the end of October 2025, it had more than 32 GW of installed gross renewable electricity generation capacity. The company aims to reach 35 GW by the end of 2025, and more than 100 TWh of net electricity production by 2030.
