Total acquires two gas power plants in France

Total is to acquire KKR-Energas’ two gas-fired combined cycle power plants (CCGT) in the north and east of France, which represent an electricity generation capacity of approximately 825 MW. The transaction is subject to approval by the relevant authorities.

‘This acquisition allows Total to continue its integration along the gas and electricity value chain, from production to marketing. With the addition of two gas plants acquired from KKR-Energas, and a growing portfolio of renewable power, the group will have the capacity to generate over one-third of the cumulated consumption of its B2C and B2B customers,’ commented Philippe Sauquet, President Gas, Renewables & Power. ‘Gas-fired power generation sources are an ideal complement to intermittent renewable sources of electricity. These flexible power plants enable the group to optimise the cost of electricity supply to its customers.’

Through its 73% stake in Direct Energie, Total also has 800 MW of capacity in two power plants of 400 MW each in France and in Belgium. The development of another 400 MW plant is planned in the Brittany region. The group plans to secure a 15% share of the B2C gas and electricity supply market in France and Belgium within five years.