TotalEnergies Sells its GreenFlex Affiliate to the French Group Oteis to Create a Leading Player in Sustainable Consultancy and Solutions

Core Insights - TotalEnergies has signed a deal to sell its sustainable consultancy and solutions affiliate GreenFlex to the French group Oteis, aligning with its strategy to focus on energy production and supply [1][10] - Oteis aims to leverage GreenFlex's expertise in environmental and social consultancy, low-carbon energy performance, and transition financing to create a significant player in the sustainable consultancy market [3][10] - Following the divestment, TotalEnergies will become a major customer of GreenFlex, entering into a contract for the production of French Energy Saving Certificates (CEEs) [4] Company Overview - TotalEnergies is a global integrated energy company involved in the production and marketing of various energy sources, including oil, natural gas, renewables, and low-carbon hydrogen, with over 100,000 employees operating in approximately 120 countries [5][10] - Oteis is an independent French consulting and engineering group with over 800 employees and around thirty agencies across Europe, specializing in construction, water and development, infrastructure, and industry [2][6] Strategic Implications - The acquisition of GreenFlex by Oteis is expected to enhance its service offerings and market presence, allowing for the integration of new teams and skills, which has historically led to strong growth for Oteis [2][3] - The deal represents an opportunity for GreenFlex's teams to expand into new markets while continuing to support businesses and regions in their sustainability and decarbonization efforts [3]