TotalEnergies Sells 50% Stake in West Burton Energy to EPUKI, Forming Joint Venture for Flexible Power Operations in the UK

TotalEnergies Sells 50% Stake in West Burton Energy to EPUKI, Forming Joint Venture for Flexible Power Operations in the UK

(IN BRIEF) TotalEnergies has sold 50% of its shares in West Burton Energy to EPUKI, the UK subsidiary of EPH, forming a joint venture to operate the 1.3 GW gas-fired power plant and 49 MW battery storage system. The partnership aligns flexible power generation with renewable energy growth in the UK. TotalEnergies adjusted its net flexible capacity to 700 MW, supporting its goal to achieve a 12% return in its Integrated Power business by 2030. The move strengthens TotalEnergies’ commitment to integrating flexible and renewable energy assets for a reliable and sustainable energy mix.

(PRESS RELEASE) PARIS, 16-Dec-2024 — /EuropaWire/ — TotalEnergies has announced the sale of 50% of its shares in West Burton Energy to EPUKI, the UK subsidiary of energy producer EPH. This move comes after TotalEnergies fully acquired West Burton Energy in June 2024, with the intention of creating a partnership to jointly manage its assets.

West Burton Energy comprises a 1.3 GW gas-fired power plant and a 49 MW battery storage system, key assets for ensuring flexible energy generation in the United Kingdom. The newly formed joint venture between TotalEnergies and EPUKI will oversee the operation of these facilities, aligning flexible power generation with the growing demand for renewable energy integration.

Sophie Chevalier, Senior Vice President Flexible Power & Integration at TotalEnergies, expressed enthusiasm for the collaboration: “We are pleased to partner with EPH, a trusted and experienced power producer in the UK. Through this partnership, we are fine-tuning our flexible generation capacity to 700 MW, matching the requirements to support our renewable energy growth in the region. By integrating flexible and renewable assets, we’re advancing toward our Integrated Power business goal of achieving a 12% return by 2030.”

The joint venture underlines TotalEnergies’ strategy of balancing flexible power generation with the expansion of renewable energy, contributing to a reliable and sustainable energy mix in the UK. This partnership also strengthens the company’s position in the UK’s energy market, aligning with its broader objectives in the Integrated Power sector.

TotalEnergies in the UK

TotalEnergies has been present in the UK for more than 60 years, employing more than 1,800 people across the energy value chain. As one of the country’s leading oil and gas operators, the Company operates around 30% of the UK Continental Shelf’s gas production, with average daily production of 142,000 barrels of oil equivalent per day (boe/d) in 2023 in company share. TotalEnergies is deploying its Integrated Power strategy in the UK, which combines renewable power production and flexible power generation capacities. Its renewable portfolio in the county includes 1.1 GW of gross installed capacity (Seagreen offshore wind farm) and 4.5 GW under development. It was complemented in 2024 by the acquisition of gas-fired power plants (CCGT) with total output of 1.3 GW. The Company is one of the UK’s largest suppliers of gas and electricity to businesses and the public sector. TotalEnergies also offers EV charging solutions and markets petroleum products including lubricants, aviation fuel, bitumen and specialty fluids.

TotalEnergies and electricity

As part of its ambition to get to net zero by 2050, TotalEnergies is building a world class cost-competitive portfolio combining renewables (solar, onshore and offshore wind) and flexible assets (CCGT, storage) to deliver clean firm power to its customers. By the end of 2024, TotalEnergies’ gross renewable electricity generation installed capacity reached over 24 GW. TotalEnergies will continue to expand this business to reach 35 GW in 2025 and more than 100 TWh of net electricity production by 2030.

About TotalEnergies

TotalEnergies is a global integrated energy company that produces and markets energies: oil and biofuels, natural gas and green gases, renewables and electricity. Our more than 100,000 employees are committed to provide as many people as possible with energy that is more reliable, more affordable and more sustainable. Active in about 120 countries, TotalEnergies places sustainability at the heart of its strategy, its projects and its operations.

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Cautionary Note
The terms “TotalEnergies”, “TotalEnergies company” or “Company” in this document are used to designate TotalEnergies SE and the consolidated entities that are directly or indirectly controlled by TotalEnergies SE. Likewise, the words “we”, “us” and “our” may also be used to refer to these entities or to their employees. The entities in which TotalEnergies SE directly or indirectly owns a shareholding are separate legal entities. TotalEnergies SE has no liability for the acts or omissions of these entities. This document may contain forward-looking information and statements that are based on a number of economic data and assumptions made in a given economic, competitive and regulatory environment. They may prove to be inaccurate in the future and are subject to a number of risk factors. Neither TotalEnergies SE nor any of its subsidiaries assumes any obligation to update publicly any forward-looking information or statement, objectives or trends contained in this document whether as a result of new information, future events or otherwise. Information concerning risk factors, that may affect TotalEnergies’ financial results or activities is provided in the most recent Registration Document, the French-language version of which is filed by TotalEnergies SE with the French securities regulator Autorité des Marchés Financiers (AMF), and in the Form 20-F filed with the United States Securities and Exchange Commission (SEC).

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SOURCE: TotalEnergies