TotalEnergies has acquired VSB Group and SN Power to enhance its renewable energy portfolio in Europe and Africa, underpinning its strategic objectives of expanding sustainable energy capacity.

Information on the Target

TotalEnergies has successfully acquired VSB Group, a prominent European developer focused on wind and solar energy projects, particularly within Germany, where it controls half of its portfolio. Additionally, the company has completed its acquisition of SN Power, an entity engaged in hydropower development in Africa, with a significant presence in Uganda. With a robust pipeline exceeding 15 GW of renewable projects, VSB Group is well-positioned to enhance TotalEnergies' renewable energy capabilities across Europe.

Moreover, TotalEnergies' acquisition of SN Power fortifies its portfolio in hydropower, particularly the Bujagali plant in Uganda, which plays a vital role in meeting the country's electricity demands. The deal also encompasses stakes in ongoing projects in Rwanda and Malawi, further establishing TotalEnergies' influence in the African renewable energy market.

Industry Overview in Uganda

Uganda's renewable energy landscape is rapidly evolving, driven by increasing demand for electricity and the government’s commitment to integrating sustainable energy sources. The potential for hydropower is significant,