In a deal that jolts the European energy sector like a power surge across the grid, TotalEnergies SE announced Monday that it has struck an agreement to acquire a 50% stake in a sprawling Western European power generation platform owned by Czech energy conglomerate Energetický a průmyslový holding AS. The transaction is valued at €5.1 billion ($5.9 billion) and positions TotalEnergies to become a formidable force in Europe’s fast-evolving electricity market.
The acquisition, rich with strategic angles and high-voltage implications, sets the French fuel giant on an aggressive path toward dominating gas-fired, biomass, and battery-based generation across the U.K., Italy, France, and the Netherlands.
14 GW of Power and a Bid for the Future
The joint venture’s portfolio—an energy ecosystem valued at €10.6 billion—packs more than 14 gigawatts of flexible generation capacity, enough electricity to power over four million homes. Another five gigawatts are already in development, amplifying the platform’s potential as a cornerstone of TotalEnergies’ transition toward integrated gas-to-power operations.
With demand from energy-hungry sectors—particularly data centers booming under the weight of AI expansion—TotalEnergies sees the deal as a direct route into Europe’s accelerating electricity needs. A June report by energy think tank Ember projects electricity consumption in data centers to climb nearly 150% by 2035, a surge the company intends to capitalize on.
