TotalEnergies Expands in Germany, Streamlines U.S. Assets

TotalEnergies SE (FR:TTE) has released an update.

TotalEnergies has bolstered its renewables footprint by acquiring Germany’s VSB Group for €1.57 billion while strategically selling a 50% stake in a 2 GW solar and battery project portfolio in Texas for $800 million. These moves are part of TotalEnergies’ plan to optimize capital allocation in renewables, enhancing their profitability and reinforcing their position in the European and U.S. markets. The acquisition of VSB, a leader in onshore wind power, significantly strengthens TotalEnergies’ Integrated Power business, especially in Germany.

For further insights into FR:TTE stock, check out TipRanks’ Stock Analysis page.