TotalEnergies has announced a strategic partnership with developer RES to acquire multiple wind and solar projects under development in Alberta, totaling over 800MW in capacity. This move underscores the company’s commitment to expanding its renewable energy footprint in North America.
The first project in this pipeline, the 184MW Big Sky Solar project, has been operational since the end of February. Notably, more than two-thirds of the electricity generated by Big Sky Solar is secured through a long-term Power Purchase Agreement (PPA), while the surplus will be sold on the electricity market. TotalEnergies will also manage the carbon credits generated under Alberta’s regulated carbon program, enhancing the project’s environmental impact.
Peter Clibbon, Senior Vice President of Development at RES, expressed pride in the project, stating, “We are proud to have developed Big Sky Solar into a high-quality renewable energy asset, helping drive Alberta’s energy transition. This sale underscores the growing demand for well-developed solar projects in Canada, and we are pleased to be working closely with TotalEnergies on more projects in the future.”
Stéphane Michel, President of Gas, Renewables and Power at TotalEnergies, emphasized the significance of the agreements, noting, “We are pleased with the signing of these agreements with RES to acquire over 600MW of renewables projects under development in Alberta, along with the closing of the Big Sky Solar farm acquisition. These projects will contribute to our targets of 35 GW of gross renewable capacity by 2025 and over 100 TWh of electricity production by 2030.”
This acquisition not only strengthens TotalEnergies’ operations in North America but also supports the company’s goal of achieving a 12% profitability target in the electricity segment. According to the International Renewable Energy Agency (IRENA), the global renewable energy sector is expected to grow significantly, with solar and wind energy being key drivers of this transformation.
In addition to the Alberta projects, TotalEnergies has completed acquisitions of VSB Group, a European wind and solar developer with extensive operations in Germany, and SN Power, which focuses on hydropower projects in Africa, particularly Uganda. These acquisitions enhance TotalEnergies’ integrated electricity business, particularly in Germany, where half of VSB’s portfolio is located. The recent purchase of battery storage developer Kyon Energy and energy manager Quadra Energy further solidifies the company’s position in the renewable energy market.
TotalEnergies’ strategic acquisitions in Alberta and Europe highlight its commitment to sustainable energy solutions and growth in the renewable sector. As the demand for clean energy continues to rise, TotalEnergies is poised to play a pivotal role in shaping the future of energy production.
