TotalEnergies Boosts Its Renewables Business With $1.66 Billion Deal ...Middle East

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TotalEnergies Boosts Its Renewables Business With $1.66 Billion Deal
source : OILPRICE ( Middle East ) () 35
TotalEnergies is buying out all remaining shares in renewable energy developer Total Eren for $1.66 billion, thus raising its stake in the firm to 100% from 30%, the French supermajor said on Tuesday. The acquisition of the 70.8% stake in Total Eren that TotalEnergies did not already own is part of the energy giant’s strategy to pursue profitable growth in the renewable energy sector. The deal follows a strategic agreement signed between TotalEnergies and Total Eren in 2017, which granted TotalEnergies the right to acquire all of Total Eren…

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