Bpifrance, Tikehau Capital, Peugeot Invest and NextWorld Announce the Sale of Their Stake in Total Eren

Regulatory News:

Bpifrance, Tikehau Capital (Paris:TKO), Peugeot Invest and NextWorld announce today that they have completed the sale of their minority stake in Total Eren, a global leading renewable energy player, to TotalEnergies (EPA : FP).

Founded by Pâris Mouratoglou and David Corchia in 2012, Total Eren develops, finances, builds and operates renewable energy assets in countries where they represent a competitive response to growing energy needs. It has reached more than 3.5 GW capacity in operation worldwide and holds a solar, wind, hydroelectric and storage projects pipeline of over 10 GW of which close to 1.2 GW are in construction or at late-stage development.

Bpifrance, Tikehau Capital, Peugeot Invest and NextWorld invested in Total Eren for the first time in 2015 to help the company accelerate its development pace. Further investments followed in 2017 and 2019 as the company was rapidly developing around the world, and they were joined by TotalEnergies in 2017.

Since 2015, the total installed capacity increased by 10 times from c.350 MW to c.3,5 GW and the sales from c.52 M€ to c.540 M€. The company also diversified its geographic footprint with over 60% of its installed capacity located outside of Europe, including in the APAC and Latin America areas and Total Eren now counts nearly 500 employees based in 20 countries. This steady growth resulted in an investment multiple above 2x for financial investors.

Besides its activities as a renewable energy producer dedicated to both private and public sectors, and with the support of its shareholders, Total Eren has launched pioneering large-scale green hydrogen projects in the recent years, which will be located in various geographies such as North Africa, Latin America, and Australia.

Pâris Mouratoglou and David Corchia, Chairman and CEO of Total Eren, stated: “Building assets in more than 20 countries and developing projects in more than 30 countries in less than 10 years require to get the best local partners on board. Making EREN RE a leader in the renewable energy space required the best global partners. We have had the privilege in 2015 to partner with Bpifrance, Tikehau, Peugeot Invest and NextWorld. Their long term investment approach and their unwavering trust and support have been a source of inspiration for all of us and were at the inception of the formidable journey we have engaged with TotalEnergies. We look forward to developing new businesses with them soon!”