TotalEnergies aims to reach 100GW of renewable power capacity by 2030. Credit: Magda Wygralak / Shutterstock.

TotalEnergies is reportedly nearing a €2bn ($2.1bn) acquisition of renewable project developer VSB Group from Partners Group, reported Bloomberg.  

According to sources familiar with the matter, TotalEnergies and Partners Group are in advanced stages of discussions and a deal could be announced soon.

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However, the sources warned that a final agreement might still face delays.

TotalEnergies and Partners Group representatives declined to comment on the news.

With more than 500 employees and 21 global offices, Germany-based VSB Group provides project management and environmental planning services across solar, hydro, and wind power sectors.

It has operations in France, Germany, Poland, and Italy.

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Partners Group acquired an 80% stake in VSB Group in 2020 and has been considering selling some infrastructure assets valued at over $5bn. Sources say that VSB Group is one of the assets that Partners Group is looking to sell. ​ 

Meanwhile, TotalEnergies continues to expand its renewable energy portfolio, contrasting with other European energy companies that have slowed their pace. 

The company recently acquired a 50% stake in two offshore wind projects from RWE, following a successful joint bid with EnBW Energie Baden-Württemberg.  

Last year, the French energy company acquired the remaining shares in clean-power developer Total Eren for €1.5bn while focusing on offshore wind projects in Germany.

In addition, TotalEnergies secured two leases in the North and Baltic seas for €5.8bn, making it the largest wind auction in Germany and one of the most expensive worldwide.

The International Energy Agency projects that renewable energies will account for more than 35% of the global energy mix by 2040. 

In line with this, TotalEnergies aims to reach 100GW of renewable power capacity by 2030, focusing on expanding its solar and wind energy businesses worldwide​.

Last month, the company signed a power purchase agreement with multinational corporation Saint-Gobain to provide renewable electricity to the latter’s facilities in France.