TotalEnergies Closes Three Acquisitions, Expands Renewable Portfolio

TotalEnergies SE TTE announced the closing of its acquisition of VSB Group, a European wind and solar developer with extensive operations in Germany. TTE has also acquired SN Power, which develops hydropower in Africa, particularly Uganda. The company also announced new deals with renewables developer RES (to acquire renewables projects in Alberta) and the closing of a first project acquisition.An Insight Into TTE’s AcquisitionsAcquisition of VSB Group: This deal further strengthens TotalEnergies’ integrated electricity business in Germany, which represents half of VSB’s portfolio.Apart from the 7 gigawatts (GW) now in operation or under construction, VSB's more than 15 GW pipeline will expand TotalEnergies' renewables network in Europe to more than 40 GW of capacity. Given its focused approach to specific important European markets, the company has begun the sale process for the 440-megawatt (MW) wind and solar Puutionsaari project in Finland.Acquisition of SN Power: TotalEnergies will be able to implement its multi-energy strategy in Uganda, where it is already involved in exploration and production. Through the deal, TotalEnergies now owns a 28.3% share in Bujagali hydropower plant, a company that operates in Uganda, as well as shares in two more projects that are being developed in Malawi (360 MW) and Rwanda (206 MW). Additionally, TotalEnergies has received a group of hydropower development specialists as part of the agreement, enhancing its capabilities in this area.TTE to acquire Canadian Renewables: The company and RES have inked contracts for the purchase of specific wind and solar projects in Alberta that are currently under development, with a combined capacity of more than 800 MW. Additionally, TotalEnergies recently completed the acquisition of Big Sky Solar, a 184 MW solar plant in Alberta that went online at the end of February.A long-term power purchase agreement will be used to sell more than two-thirds of Big Sky Solar's electricity. In addition to selling the carbon credits produced by the facility under Alberta's controlled carbon emissions program, TotalEnergies will sell the remaining portion of the electricity produced on the power market.TotalEnergies Prioritizes Clean EnergyTo reach net zero by 2050, TTE is developing a world-class, cost-competitive portfolio that combines flexible assets like combined-cycle gas turbines and storage with renewable energy sources like solar, onshore and offshore wind. The idea is to provide clean, reliable electricity to its customers.By the end of 2024, TotalEnergies’ gross renewable electricity generation installed capacity was 26 GW. With further growth, the company plans to produce 35 GW of power by 2025 and more than 100 terawatt-hours of net electricity by 2030.Other Companies’ Focus on Renewable EnergyPer a U.S. Energy Information Administration (“EIA”) report, the annual share of U.S. electricity generation from renewable energy sources will be 25% in 2025 and 27% in 2026. EIA also expects U.S. sales of electricity to ultimate customers in the first quarter of 2025 to total 991 billion kilowatt-hours (kWh) compared with the previous forecast of 972 billion kWh.Some other companies like BP plc BP, Shell SHEL and Equinor ASA EQNR are also expanding their renewable energy operations.BP aims to become a world leader in offshore wind, safely developing and operating a multi-gigawatt global pipeline over the next decade. At the end of the fourth quarter of 2024, the company’s renewables pipeline was 60.6 GW.BP’s long-term (three to five years) earnings growth rate is 8.81%. The Zacks Consensus Estimate for 2025 sales indicates a year-over-year increase of 24%.At the start of 2025, Shell had around 3.4 GW of renewable power generation capacity in operation, 4 GW under construction/contract and an attractive potential pipeline of renewable and flexible generation projects globally for future development.SHEL’s long-term earnings growth rate is 6.18%. The Zacks Consensus Estimate for 2025 sales indicates a year-over-year increase of 5.6%.By focusing on disciplined, value-driven growth in key markets, EQNR has built a gigawatt-scale renewable energy portfolio and project pipeline, with 7 GW of capacity installed or under development (at the end of 2024) and aims to reach 10-12 GW by 2030.EQNR’s long-term earnings growth rate is 11.62%. The Zacks Consensus Estimate for 2025 EPS indicates a year-over-year increase of 10.8%.TTE’s Stock Price PerformanceIn the past three months, shares of TotalEnergies have risen 14% compared with the industry’s 9.3% growth.     Image Source: Zacks Investment ResearchTTE’s Zacks RankThe company currently has a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. Zacks' Research Chief Names "Stock Most Likely to Double"Our team of experts has just released the 5 stocks with the greatest probability of gaining +100% or more in the coming months. Of those 5, Director of Research Sheraz Mian highlights the one stock set to climb highest.This top pick is among the most innovative financial firms. With a fast-growing customer base (already 50+ million) and a diverse set of cutting edge solutions, this stock is poised for big gains. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report BP p.l.c. (BP): Free Stock Analysis Report Equinor ASA (EQNR): Free Stock Analysis Report TotalEnergies SE Sponsored ADR (TTE): Free Stock Analysis Report Shell PLC Unsponsored ADR (SHEL): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks