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September 19, 2017

Total to acquire 23% stake in EREN Renewable Energy for €237.5m

France-based oil company Total has entered an agreement to purchase an indirect interest of 23% in EREN Renewable Energy (EREN RE) for €237.5m.

France-based oil company Total has entered an agreement to purchase an indirect interest of 23% in EREN Renewable Energy (EREN RE) for €237.5m.

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Wind Power Market seeing increased risk and disruption

The wind power market has grown at a CAGR of 14% between 2010 and 2021 to reach 830 GW by end of 2021. This has largely been possible due to favourable government policies that have provided incentives to the sector. This has led to an increase in the share of wind in the capacity mix, going from a miniscule 4% in 2010 to 10% in 2021. This is further set to rise to 15% by 2030. However, the recent commodity price increase has hit the sector hard, increasing risks for wind turbine manufacturers and project developers, and the Russia-Ukraine crisis has caused further price increase and supply chain disruption. In light of this, GlobalData has identified which countries are expected to add the majority of wind power capacity out to 2030. Get ahead and download this whitepaper for more details on the current state of the Wind Power Market.
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The new deal also offers Total an option to acquire EREN RE after a period of five years.

Total seeks to increase its growth in the production of power from renewable sources and to enter the windpower industry.

Subject to approval by relevant competition authorities, the deal will see EREN RE renamed Total Eren. The new entity will focus on developing solarfarm business in emerging countries where the demand for electricity is increasing.

The proposed deal also complements Total’s portfolio of renewable energy businesses and is expected to help Total achieve its goal of installing 5GW of capacity in five years.

"[New entity Total Eren] will focus on developing solarfarm business in emerging countries where the demand for electricity is increasing."

Total chairman and CEO Patrick Pouyanné said: “Total integrates climate challenge into its strategy and is pursuing steady growth in low-carbon businesses, in particular in renewable energy.

“By partnering with EREN RE, we are leveraging a team that has a proven track record in renewable power production, and we are investing in an additional asset to accelerate our profitable growth in this segment, in line with our ambition to become the responsible energy major.”

Established in 2012, EREN RE currently serves various power generation markets including wind, solar, and hydro.

The company’s global portfolio of installed capacity represents 650MW of assets that are either in operation or under construction.

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Free Report
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Wind Power Market seeing increased risk and disruption

The wind power market has grown at a CAGR of 14% between 2010 and 2021 to reach 830 GW by end of 2021. This has largely been possible due to favourable government policies that have provided incentives to the sector. This has led to an increase in the share of wind in the capacity mix, going from a miniscule 4% in 2010 to 10% in 2021. This is further set to rise to 15% by 2030. However, the recent commodity price increase has hit the sector hard, increasing risks for wind turbine manufacturers and project developers, and the Russia-Ukraine crisis has caused further price increase and supply chain disruption. In light of this, GlobalData has identified which countries are expected to add the majority of wind power capacity out to 2030. Get ahead and download this whitepaper for more details on the current state of the Wind Power Market.
by GlobalData
Enter your details here to receive your free Report.

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