Overview
- The partners signed the agreement on November 17 to combine 25 gas and biomass plants with storage across France, Italy, the UK, Ireland and the Netherlands.
- The platform totals about 14 GW of gross flexible capacity in operation or under construction and roughly 15 TWh in annual net output.
- EPH’s contributed assets are valued at €10.6 billion, with consideration delivered via 95.4 million newly issued TotalEnergies shares priced at €53.94.
- The share issuance would give EPH about 4.1% of TotalEnergies, making it one of the company’s largest shareholders.
- Completion requires approval from competition authorities, with closing targeted for mid-2026, and the 50/50 venture will run operations while each company markets its share of output via tolling.