Total has signed an agreement with KKR-Energas to acquire its two gas-fired combined cycle power plants (CCGT) in the North and East of France, with 825 megawatts (MW) power production capacity.
Through its 73 percent stake in Direct Energie, Total also has 800 MW of capacity in two power plants of 400 MW each in France and in Belgium.
The development of another 400 MW plant is planned in the Brittany region, Total said in a statement.
“This acquisition allows Total to continue its integration along the gas and electricity value chain, from production to marketing,” said Philippe Sauquet , president gas, renewables & power.
Sauquet added that with the addition of two gas plants acquired from KKR-Energas, and a growing portfolio of renewable power, Total will have the capacity to generate over one-third of the cumulated consumption of its B2C and B2B customers.
“Gas-fired power generation sources are an ideal complement to intermittent renewable sources of electricity. These flexible power plants enable the group to optimize the cost of electricity supply to its customers,” he said.
Total has an objective of achieving 15 percent share of the B2C gas and electricity supply market in France and Belgium within 5 years.