TotalEnergies Expands Renewable Energy Portfolio with $1.7 Billion VSB Group Acquisition

TotalEnergies has announced the acquisition of Germany-based renewable energy developer VSB Group from Partners Group for €1.57 billion (USD $1.7 billion). Founded in 1996, VSB specializes in wind and solar energy projects across Europe, with over 475 MW of renewable capacity in operation or construction and an 18 GW pipeline of wind, solar, and battery storage projects.

Stéphane Michel, President of Gas, Renewables, and Power at TotalEnergies, stated, “We 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.”

The acquisition supports TotalEnergies' target to reach 35 GW of renewable energy generation by 2025 and more than 100 GW of capacity by 2030. It also aligns with the company’s strategy to strengthen its Integrated Power value chain in Germany, following previous acquisitions of Kyon Energy and Quadra Energy.

Felix Grolman, CEO of VSB Group, remarked, “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.”

Partners Group, which acquired VSB in 2020, highlighted the company’s transformation under its ownership. David Daum, Head of Infrastructure Europe at Partners Group, commented, “We then transformed VSB from a developer into a full-service renewable energy platform and independent power producer. Having completed our value creation plan, we believe now is the right time to exit.”