TotalEnergies seals €5.1bn all‑stock JV for 50% of EPH’s flexible power portfolio, adding 14GW across Europe (17 Nov 2025)
PARIS — November 17, 2025. TotalEnergies has agreed to acquire a 50% stake in Energetický a průmyslový holding’s (EPH) flexible power generation platform in a €5.1 billion, all‑stock transaction. The deal creates a 50/50 joint venture spanning more than 14 gigawatts (GW) of gas‑fired, biomass and battery assets across Italy, the UK & Ireland, the Netherlands and France, with closing targeted for mid‑2026 pending approvals. EPH will be paid in newly issued TotalEnergies shares and become a meaningful shareholder in the French energy major. TotalEnergies.com+1 Key facts at a glance Why this deal matters For TotalEnergies, the acquisition accelerates a