TotalEnergies potentially interested in acquiring Akuo


From pv magazine France

French renewables developer Akuo said earlier this year that it had started looking for a strategic partner, when it hired three banks – Nomura, Rothschild & Co, and Natixis Partners – to assess potential takeover offers. Several investment funds, including the investment arm of French energy giant TotalEnergies, have reportedly expressed interest, according to a recent report in L'Informé.

Earlier this year, the founders of Akuo announced their search for financing to develop a 20 GW renewable energy project portfolio. To assist in this process, the company has engaged three banks – Nomura, Rothschild & Co., and Natixis Partners – to evaluate potential takeover offers and their strategic value.

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Total Energies, with its €280 billion ($307.0 billion) in turnover in 2022 and record profits of nearly €19.5 billion over the same year, is therefore well-positioned to easily complete this acquisition, estimated at around €2 billion by Akuo. A deal would significantly expand Total Energies' renewable portfolio, which stood at 1.6 GW of operational capacity in January 2023, primarily through external growth.

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