Total Energy plans to boost electricity trading by investing $6 billion to acquire the Krettinski natural gas power plant

On November 17th, Total Energy announced that it will acquire a 50% stake in Czech energy company EPH Western Europe Flexible Power Generation Portfolio through a € 5.1 billion ($5.9 billion) all stock deal, thereby more than doubling its net natural gas power generation capacity.

This French oil giant hopes to become a global leading integrated power company, combining renewable energy and gas-fired power generation to meet the growing demand of industries such as data centers, while increasing electricity trading profits.

EPH, controlled by Czech billionaire Daniel Krettinski, will acquire newly issued shares of TotalEnergies worth 5.1 billion euros, making it the third largest shareholder of the French company, accounting for approximately 4.1% of its capital.

According to data from the London Stock Exchange Group (LSEG) and the company, this will result in its employee shareholding ratio falling behind Total's employee shareholding ratio of 8.9% and Blackrock's employee shareholding ratio of 6.7%. This makes us one of the largest power companies in Europe, promoting our clean energy sales... and bringing new dimensions to our trading business, "Patrick Pouyanne, CEO of Total Energy, said in a conference call with investors. As of 12:41 Greenwich Mean Time, TotalEnergies' stock price rose 0.6% to 56.57 euros.