Core Insights - TotalEnergies has signed a €5.1 billion ($5.92 billion) all-stock agreement to acquire 50% of EPH's flexible power generation platform in Western Europe, enhancing its gas-to-power integration strategy [1][2] Group 1: Transaction Details - The deal includes assets in Italy, the UK, the Republic of Ireland, the Netherlands, and France, with EPH receiving 95.4 million TotalEnergies shares priced at €53.94 each, representing about 4.1% of TotalEnergies' share capital [1] - A joint venture (JV) will be established, owned equally by TotalEnergies and EPH, to manage the assets and drive business development [2] Group 2: Operational Impact - The transaction is expected to add approximately 15 TWh of net electricity production per year, equivalent to about two million tonnes per annum of LNG [3] - The portfolio includes over 14 GW of gross capacity from operational or under-construction flexible generation assets, benefiting from secured capacity revenues that account for around 40% of the gross margin [3] Group 3: Future Growth and Financials - The acquisition also covers about 5 GW of projects under development, with the JV positioned to drive flexible power generation growth in targeted countries [4] - TotalEnergies anticipates an increase in available cash flow of about $750 million per year over the next five years, exceeding the additional dividend associated with the newly issued shares [4] - The Integrated Power segment is expected to generate positive free cash flow and contribute to shareholder returns as early as 2027, with a reduction in annual net capital expenditure guidance by $1 billion to $14-$16 billion for 2026-2030 [5] Group 4: Strategic Vision - TotalEnergies' chair and CEO emphasized that this acquisition is a major milestone in the strategy to build an integrated electricity player in Europe, enhancing the ability to provide reliable, competitive, and low-carbon energy [6]

50% acquisition of EPH flexible generation in Europe November 17, 2025 Scandale CCGT, Italy Key deregulated markets to scale up the integrated model power capacity + + = ~70% and generation USA Europe Brazil Economic growth driving power demand growth Integrated Power Strategy as presented on Sept. 29th Sharpening focus on key deregulated markets USA, Europe, Brazil Leveraging the multi-energy model to strengthen Oil & Gas positions Selected renewable markets Selectively targeting large-scale growing market ...