Sustained growth secured: TotalEnergies acquires 100 per cent of VSB Group

The Juurakko wind farm in Finland
© Ulrich Mertens Atelier für Kunst und FotografieDresden/Zug/Paris (renewablepress) - Green light at VSB and TotalEnergies: the French energy company TotalEnergies has signed an agreement for the complete acquisition of the shares of the VSB Group, from majority owner Partners Group as well as VSB’s founder. Headquartered in Germany, VSB is one of Europe’s leading platforms for renewable energy, with a project pipeline of over 18 gigawatts for wind, photovoltaic and battery storage and over 475 megawatts in its own operation (IPP).

The expansion of renewable energy is a major global challenge for society as a whole. That is why joining forces through strong partnerships is the way to tackle climate change decisively and accelerate the growth of wind energy, photovoltaics, e-mobility and storage. By entering into this partnership with TotalEnergies, VSB Group will contribute its extensive expertise in developing renewable energy projects in six European energy markets and its reputation for trust and quality as a valuable basis for this new common path. At the same time, VSB Group will benefit from the financial strength, global network and excellent strategic positioning of the French energy group.

Dr Felix Grolman, CEO of VSB Group, comments: “Renewable Energy is the new normal. The pivotal change in global energy production is clear in this new partnership. TotalEnergies´ global impact, with the ambitious goal of 100 gigawatts of renewable energy capacity by 2030, combined with VSB´s capability to deliver over 5 gigawatts production and storage assets in the next few years in Europe alone, is a giant step towards making those ambitions a reality. Our common mission is to build and operate as many gigawatts of wind-, solar, and storage assets, as efficiently as possible as fast as possible!”

"We are very pleased to welcome the 500 employees of VSB Group and their leading onshore wind expertise in European markets. Their competences and assets will contribute to the development of our Integrated Power strategy in Europe, and notably in Germany“, said Stéphane Michel, president of Gas, Renewables and Power at TotalEnergies.

The completion of the transaction remains subject to the approval of applicable merger control authorities.

Founded in 1996, VSB Group has 21 locations in Germany, France, Poland, Finland, Italy and Croatia. Since 2020, the company has been majority-owned by Partners Group, one of the largest firms in the global private markets industry, acting on behalf of its clients.


About VSB Group

VSB, headquartered in Dresden, is one of Europe’s leading vertically integrated developers in the field of renewable energy. Its core business is project development of onshore wind and photovoltaic parks, battery storage solutions, their operational management as well as the operation of its own assets as a growing independent power producer. VSB operates in six European countries and has a pipeline of more than 18 GW. Since 1996, it has installed more than 750 wind energy and photovoltaic plants. VSB also provides services for a portfolio of more than 3 GW and is active in the field of e-mobility for freight transport. With its affiliated companies, the Group employs over 500 people. Further information:

www.vsb.energy


About TotalEnergies

TotalEnergies is a global integrated energy company that produces and markets energies: oil and biofuels, natural gas and green gases, renewables and electricity. Our more than 100,000 employees are committed to provide as many people as possible with energy that is more reliable, more affordable and more sustainable. Active in about 120 countries, TotalEnergies places sustainability at the heart of its strategy, its projects and its operations.


TotalEnergies and electricity

As part of its ambition to get to net zero by 2050, TotalEnergies is building a world class cost-competitive portfolio combining renewables (solar, onshore and offshore wind) and flexible assets (CCGT, storage) to deliver clean firm power to its customers. By the end of 2024, TotalEnergies’ gross renewable electricity generation installed capacity had reached over 24 GW. TotalEnergies will continue to expand this business to reach 35 GW in 2025 and more than 100 TWh of net electricity production by 2030.


Download press photo:
https://www.iwrpressedienst.de/bild/vsb/f57af_241204_VSB_U_Mertens_Juurakko.jpg
Caption: The Juurakko wind farm in Finland
© Ulrich Mertens Atelier für Kunst und Fotografie


Dresden/Zug/Paris, 04 December 2024


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