The French company Total Energies signed an agreement to acquire the entire capital of the German company Keon Energy, which specializes in batteries and energy storage technology, as a step to develop the company’s energy operations.
Total Energies said in a statement that this acquisition requires the payment of 90 million euros ($98.2 million) in advance, in addition to other subsequent payments linked to achieving development goals.
“This acquisition will enable us to accelerate the development of our integrated energy activities in Germany,” said Stefan Michel, Head of Total Energies Gas and Renewable Energy.
Michel added that the acquisition, which has not yet been approved by the competent authorities, will contribute to achieving the group’s target profit rate for the sector, which is 12 percent on the average capital used by 2028.
On the other hand, Total Energy signed an agreement with the Danish renewable energy company European Energy A/S to develop offshore wind projects in Denmark, Finland and Sweden.
The deal includes Total Energies’ acquisition of an 85 percent stake in the “Gamerland Paget” project, with a capacity of 240 megawatts, and a 72.2 percent stake in the Lilbelet South project, which has a capacity of 165 megawatts.
The two sites, located in Danish waters, are expected to receive final construction permits in mid-2024 and begin operations by 2030.
2024-01-24 10:39:30
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