TotalEnergies has signed an agreement for the complete acquisition of the shares of the VSB Group, from majority owner Partners Group as well as VSB’s founder. Headquartered in Germany, VSB is one of Europe’s leading platforms for renewable energy, with a project pipeline of over 18 gigawatts for wind, photovoltaic and battery storage and over 475 megawatts in its own operation (IPP).
The expansion of renewable energy is a major global challenge for society as a whole. That is why joining forces through strong partnerships is the way to tackle climate change decisively and accelerate the growth of wind energy, photovoltaics, e-mobility and storage. By entering into this partnership with TotalEnergies, VSB Group will contribute its extensive expertise in developing renewable energy projects in six European energy markets and its reputation for trust and quality as a valuable basis for this new common path. At the same time, VSB Group will benefit from the financial strength, global network and excellent strategic positioning of the French energy group.
Dr Felix Grolman, CEO of VSB Group, comments: 'Renewable Energy is the new normal. The pivotal change in global energy production is clear in this new partnership. TotalEnergies´ global impact, with the ambitious goal of 100 gigawatts of renewable energy capacity by 2030, combined with VSB´s capability to deliver over 5 gigawatts production and storage assets in the next few years in Europe alone, is a giant step towards making those ambitions a reality. Our common mission is to build and operate as many gigawatts of wind-, solar, and storage assets, as efficiently as possible as fast as possible!'
'We are very pleased to welcome the 500 employees of VSB Group and their leading onshore wind expertise in European markets. Their competences and assets will contribute to the development of our Integrated Power strategy in Europe, and notably in Germany', said Stéphane Michel, president of Gas, Renewables and Power at TotalEnergies.
The completion of the transaction remains subject to the approval of applicable merger control authorities.
Founded in 1996, VSB Group has 21 locations in Germany, France, Poland, Finland, Italy and Croatia. Since 2020, the company has been majority-owned by Partners Group, one of the largest firms in the global private markets industry, acting on behalf of its clients.
Source: VSB Group
