TotalEnergies SE Invests in African Hydropower

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

TotalEnergies SE has expanded its renewable energy portfolio by acquiring SN Power from Scatec, gaining a significant stake in Africa’s hydropower sector, including an operational plant in Uganda and projects in Rwanda and Malawi. The move aligns with the company’s multi-energy strategy and commitment to supporting energy transitions in oil-producing countries. TotalEnergies aims to bolster its renewable electricity generation capacity, targeting 35 GW by 2025 and over 100 TWh by 2030.

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