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Total expands energy efficiency and renewable business with Greenflex and EREN deals

Total is set to acquire French energy efficiency firm Greenflex and buy an indirect stake in renewable energy company EREN RE.



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Author: PetrolPlaza Correspondent Daniel Infante Tuaño

According to a company release, the acquisition of Greenflex, expected to close in the fourth quarter of 2017, will boost Total’s energy efficiency offering, over and above the growth of its affiliates BHC Energy in France and Tenag in Germany.

Total intends to offer energy optimization and emissions management solutions to customers as it pursues its strategy to address climate challenges.

In a separate transaction, its indirect investment of 23% in EREN RE, a company that manages a diversified portfolio of wind, solar and hydraulic assets, aims to accelerate Total’s expansion in the production of power from renewable sources.

“EREN RE’s momentum will allow us to accelerate our growth in solar energy and move us into the wind power market. The agreement with EREN RE is a major step towards our objective of achieving 5GW of installed capacity in 5 years,” commented Philippe Sauquet, President Gas, Renewables and Power.

The transaction, upon approval and completion, will rename EREN RE to Total Eren.

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