-- TotalEnergies said on Thursday it had completed the acquisition of a 50% stake in EPH's flexible power generation platform in Western Europe, creating TTEP, the second-largest flexible generation player in Europe.
The French energy major said Amsterdam-based TTEP has around 14 gigawatts of installed or under-construction capacity across Italy, the UK, Ireland, the Netherlands, and France.
TTEP's portfolio includes natural gas, biomass, and battery energy storage system assets, producing nearly 30 terawatt-hours of electricity in 2025.
The platform also has a development pipeline of about 5 GW, positioning it as a key platform for expanding flexible generation and large-scale battery storage across Western Europe.
Under the agreement, TotalEnergies and EPH will market their respective shares of output through tolling contracts with TTEP.
TotalEnergies issued about 95.4 million shares to EPH as part of the deal, equivalent to about 4.2% of its share capital.
Separately, TotalEnergies said it had reached financial close and begun construction on a 440-megawatt solar project in the Philippines with partner Nextnorth.
The $300 million project, located in Ilagan in Isabela province, will be owned 65% by TotalEnergies and 35% by Nextnorth, and is projected to start operations by the end of 2027. Over a 20-year period, it is set to generate about 13.5 terawatt-hours of electricity.
More than half of the output will be sold under long-term agreements to retail electricity suppliers AdventEnergy and PrimeRES, with the remainder supplied to the national grid under the government's Green Energy Auction Program.
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