Total: move to acquire two gas power plants in France
(CercleFinance.com) - Total Group has announced today that it has signed an agreement with KKR-Energas with a view to acquiring its two gas-fired combined cycle power plants (CCGT) in the north and east of France, for an electricity generation capacity of approximately 825 megawatts.
“This acquisition allows Total to continue its integration along the gas and electricity value chain, from production to marketing. With the addition of two gas plants acquired from KKR-Energas, and a growing portfolio of renewable power, the Group will have the capacity to generate over one-third of the cumulated consumption of its B2C and B2B customers”, explained Philippe Sauquet, President Gas, Renewables & Power.
This transaction remains subject to prior approval from the competent authorities. Total's objective is to reach 15% of the market for gas and electricity supply to homes in France and Belgium within the next five years.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
“This acquisition allows Total to continue its integration along the gas and electricity value chain, from production to marketing. With the addition of two gas plants acquired from KKR-Energas, and a growing portfolio of renewable power, the Group will have the capacity to generate over one-third of the cumulated consumption of its B2C and B2B customers”, explained Philippe Sauquet, President Gas, Renewables & Power.
This transaction remains subject to prior approval from the competent authorities. Total's objective is to reach 15% of the market for gas and electricity supply to homes in France and Belgium within the next five years.
Copyright (c) 2018 CercleFinance.com. All rights reserved.