French energy giant TotalEnergies has acquired close to one gigawatt of wind and solar assets in Canada through agreements with RES, the world’s largest independent renewable energy company.
The deal includes the recently commissioned 184-megawatt Big Sky Solar project in Alberta, along with more than 800 megawatts of wind and solar projects currently under development in the province. The move supports TotalEnergies’ ambition to scale up its renewables portfolio to 35 GW of gross installed capacity by the end of 2025, up from its current 26 GW, focusing on liberalised power markets where it can both generate and trade electricity freely.
Approximately two-thirds of the power generated by Big Sky Solar will be sold through long-term power purchase agreements, with the remainder marketed on the open electricity market. The company also plans to monetise carbon credits generated by the facility under Alberta’s regulated emissions scheme.
In parallel, TotalEnergies confirmed it had reached financial close on two other major transactions — the acquisition of German renewables developer VSB, which boasts an 18 GW project pipeline, and SN Power, which holds stakes in 791 MW of hydropower assets across Africa.
TotalEnergies has previously stated that its investment in African renewables is part of a broader strategy to supply clean electricity to local populations in countries where it is also developing major oil and gas infrastructure — including Uganda’s $5 billion East African Crude Oil Pipeline.
Regarding the VSB acquisition, the French firm highlighted Germany as a priority market for growth. However, it also revealed plans to divest a Finnish project developed by VSB — the 440 MW Puutionsaari wind and solar site — as part of its broader portfolio management strategy.
The acquisitions mark a significant step in TotalEnergies’ ongoing transition towards a more balanced energy mix, as it seeks to position itself as a key player in the global renewables sector.
