- TotalEnergies completed the acquisition of 50% of EPH's Western Europe flexible power platform, creating TTEP (headquartered in Amsterdam) as the joint venture.
- TTEP owns 14 GW of flexible capacity (installed or in construction) across Italy, the UK, Ireland, the Netherlands and France, comprising natural gas and biomass-fired plants plus battery energy storage systems, with ~30 TWh output in 2025.
- TotalEnergies issued ~95.4 million shares to EPH (~4.2% of share capital); TTEP holds a 5 GW project pipeline and has tolling contracts allowing each partner to market its share of production.
Transaction
TotalEnergies completed the acquisition, agreed on 16 November 2025, of 50% of EPH’s flexible power generation platform in Western Europe; the transaction became effective on April 29, 2026 and resulted in the creation of TTEP, headquartered in Amsterdam.
Assets and output
TTEP owns and operates flexible natural gas and biomass-fired power plants and battery energy storage systems across Italy, the United Kingdom, Ireland, the Netherlands and France, totaling 14 GW of capacity installed or in construction and producing close to 30 TWh of electricity in 2025.
Commercial arrangements and governance
TotalEnergies and EPH agreed tolling contracts with TTEP that allow each partner to market its share of production; pursuant to powers delegated by the Shareholders’ Meeting of May 24, 2024, TotalEnergies’ board approved issuance of about 95.4 million shares to EPH (≈4.2% of share capital), making EPH a major shareholder.
Pipeline and strategy
TTEP holds a 5 GW project portfolio and will serve as the preferred vehicle for both shareholders to develop additional flexible generation assets and large-scale battery storage across the five countries.
