TotalEnergies has completed its acquisition of a 50% stake in EPH’s flexible power generation platform in Western Europe, creating TTEP, the second-largest flexible generation player in Europe. The transaction, originally agreed on November 16, 2025, became effective April 29, 2026, and has been approved by all relevant regulatory authorities and the boards of both companies. TTEP is headquartered in Amsterdam.
TTEP owns and operates flexible natural gas and biomass-based power plants and battery energy storage systems across Italy, the United Kingdom, Ireland, the Netherlands, and France, with a total installed or under-construction capacity of 14 gigawatts. The platform produced close to 30 terawatt-hours of electricity in 2025 and carries a 5 gigawatt project development pipeline. Both TotalEnergies and EPH have agreed on tolling contracts with TTEP, allowing each partner to market its own share of production. TTEP will also serve as the preferred investment vehicle for both shareholders to develop flexible power generation and large-scale battery storage solutions across the five countries.
As part of the transaction, TotalEnergies issued approximately 95.4 million shares to EPH, representing approximately 4.2% of TotalEnergies’ share capital, making EPH one of the company’s principal shareholders.
