TOTALENERGIES takes majority stake in ENERGETICKÝ A PRŮMYSLOVÝ EPH

TotalEnergies has entered into an agreement with EPH to acquire a 50% stake in a European portfolio of power generation assets, as part of a joint venture owned equally by both groups, which will be responsible for the industrial management and development of these assets. Beyond the capital structuring of the transaction, this deal aligns with TotalEnergies' Integrated Power strategy, aimed at increasing the group's exposure to electricity in Europe and developing synergies between its gas and power generation activities. In this context, the acquired portfolio represents a significant platform, comprising over 14 GW of flexible power generation capacity, primarily consisting of gas-fired power plants, biomass units, and battery storage systems, spread across several key European markets. The portfolio also includes approximately 5 GW of projects under development, with an expected net production of around 15 TWh per year, projected to reach nearly 20 TWh by 2030. In addition to its industrial scope, the portfolio is underpinned by power markets that provide a substantial portion of secured revenue, particularly through capacity mechanisms that account for around 40% of gross margins, contributing to the economic visibility of the portfolio. Finally, the transaction, which involves the issuance of TotalEnergies shares to EPH for approximately €5.1 billion, is expected to be immediately accretive to free cash flow per share and will contribute to the group's accelerated growth in the flexible and low-carbon power markets.