TotalEnergies snaps up solar, battery assets in south of England

(Sharecast News) - French energy giant TotalEnergies has purchased eight ready-to-build solar projects and two battery storage assets in the south of England. The portfolio, which totals 435MW in renewable assets, was sold by renewable energy company Low Carbon for an undisclosed amount.

According to statements put out by both companies on Tuesday, the projects acquired by TotalEnergies should be operational by 2028 and produce more than 350 GWh per year of electricity - enough to supply 100,000 UK households annually.

Low Carbon founder and chief executive Roy Bedlow said this was "one of the largest ready-to-build portfolios of solar and battery projects in the UK market".

He added that, once operational, "these projects will make a vital contribution to the Government's Clean Power 2030 ambition".

Meanwhile, Olivier Jouny, senior vice president of renewables at TotalEnergies, said the deal "will complement our integrated electricity portfolio in the UK, which includes 1.1 GW of gross installed offshore wind, 1.3 GW of gross combined cycle gas turbine, and more than 600 MW of solar projects under development".

TotalEnergies shares were down 0.2% at 1253 in Paris.