Overview
- The transaction implies a €10.6 billion enterprise value for the portfolio, about 7.6 times expected 2026 EBITDA.
- The assets total more than 14 GW in operation or under construction plus roughly 5 GW in development across Italy, the U.K. and Ireland, the Netherlands, and France.
- TotalEnergies will issue 95.4 million new shares to EPH, which would hold about 4.1% of the company upon completion.
- Closing is targeted for mid-2026, with a 50/50 joint venture to manage the fleet while each partner markets its share of output under a tolling agreement.
- TotalEnergies projects roughly $750 million in additional annual available cash flow over the next five years, with about 15 TWh of net output initially and potential monetization of around 2 Mtpa of LNG.