TotalEnergies seals €5.1bn all‑stock JV for 50% of EPH’s flexible power portfolio, adding 14GW across Europe (17 Nov 2025)
TotalEnergies will acquire a 50% stake in EPH’s flexible power generation platform for €5.1 billion in stock, forming a joint venture with over 14 GW of assets across Western Europe. EPH will receive 95.4 million new TotalEnergies shares, gaining about 4.1% of the company. The deal values the portfolio at €10.6 billion and is expected to close by mid-2026, pending approvals.
