(Il Sole 24 Ore Radiocor) - Milano, 17 nov - The French energy group TotalEnergies said it has accelerated its gas-to-power integration strategy in Europe by acquiring 50% of a portfolio of flexible power generation assets from the Czech energy company EPH in a 5.1 billion euro all-stock transaction.

As part of the deal, TotalEnergies and EPH will create a 50:50 joint venture with more than 14 gigawatts (GW) of flexible generation in operation or under consturction, representing net annual production of 15 terawatt hours (TWh) increasing to 20 TWh in 2030. The JV also will boast a 5 GW pipeline under development. TotalEnergies and EPH will be responsible for the industrial management of the assets and the business development, while each company will market its share of production under a tolling arrangement with the joint venture.

TotalEnergies said the transaction is immediately accretive on free cash flow per share for its shareholders. Due to the deal and the accelerated inorganic growth it entails for its integrated power segment, TotalEnergies said it is lowering its annual net capex guidance by 1 billion dollars per year to 14-16 billion dollars per year for 2026-2030, of which 2-3 billion for integrated power. The company is maintaining its 2030 electricity generation target of 100-120 TWh.

EPH will own about 4.1% of TotalEnergies share capital after deal completion.

TotalEnergies said the transaction is subject to the legal information and consultation process of the relevant employee representatives and to the approval of the competent.

authorities, with completion expected for mid-2026.

(RADIOCOR) 17-11-25 14:55:04 (0393) 5 NNNN