TotalEnergies is investing €5.1bn in a joint venture with Czech billionaire Daniel Křetínský, acquiring a 50% stake in 14GW of gas-fired and biomass power plants across France, Italy, the UK, and the Netherlands. This move aligns with Total’s strategy to diversify its energy portfolio while enhancing its focus on gas generation, despite recent commitments to renewables. The partnership will enable EPH to reduce its geographic exposure and strengthen its position within TotalEnergies, which aims for a 2027 cash flow milestone. TotalEnergies shares rose 0.5% following the announcement.
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