Divestiture • Oil/Gas Exploration

TotalEnergies Acquires Energias de Portugal S.A. - B2C Commercial Business and Two Gas-Fired Combined Cycle Power Plants

On May 18, 2020, TotalEnergies acquired oil/gas exploration company Energias de Portugal S.A. - B2C Commercial Business and Two Gas-Fired Combined Cycle Power Plants from Energias de Portugal S.A. - Hydropower Portfolio for 515M EUR

Acquisition Context
  • This is TotalEnergies’ 6th transaction in the Oil/Gas Exploration sector.
  • This is TotalEnergies’ 5th largest (disclosed) transaction.
  • This is TotalEnergies’ 1st transaction in Spain.

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M&A Deal Summary

Date May 18, 2020
Target Energias de Portugal S.A. - B2C Commercial Business and Two Gas-Fired Combined Cycle Power Plants
Sector Oil/Gas Exploration
Buyer(s) TotalEnergies
Sellers(s) Energias de Portugal S.A. - Hydropower Portfolio
Deal Type Divestiture
Deal Value 515M EUR

Target Company

Energias de Portugal S.A. - B2C Commercial Business and Two Gas-Fired Combined Cycle Power Plants

Spain
Energias de Portugal, S.A. - B2C Commercial Business and Two Gas-Fired Combined Cycle Power Plants represent an electricity generation capacity of nearly 850 megawatts. It is the 4th largest supplier of gas and power in Spain with a residential market share of 12% and 6% respectively. It complements its future production of renewable electricity, which is intermittent, with flexible electricity generation capacities from gas.
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Buyer Overview 1

Buyer

TotalEnergies

Courbevoie, France

Category Company
Founded 1924
Sector Oil/Gas Exploration
Employees62,796
Revenue 195.6B USD (2024)
DESCRIPTION

TotalEnergies is a global integrated energy company that produces and markets energies: oil and biofuels, natural gas and green gases, renewables, and electricity. TotalEnergies was founded in 1924 and is based in Courbevoie, France.


Deal Context for Buyer #
Overall 16 of 26
Sector: Oil/Gas Exploration 6 of 8
Type: Divestiture 5 of 8
Country: Spain 1 of 1
Year: 2020 2 of 3
Size (of disclosed) 5 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-04-23 Tullow Oil - Uganda Lake Albert Project

Uganda

Tullow Oil plc - Uganda Lake Albert Project develop a crude oil pipeline project in East Africa.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-09-29 Blue Point London

London, United Kingdom

Blue Point London is an electric vehicle charging network citywide, which includes more than 1,600 on-street charge points. Blue Point London is based in London, United Kingdom.

Buy -

Seller Profile 1

SELLER
DESCRIPTION

Energias de Portugal, S.A. (EDP S.A.) - Hydropower Portfolio of 21 operational small-scale hydropower plants located in Northern and Central Portugal with a total capacity of approximately 100 MW. The new hydropower portfolio consists of 14 run-of-river units and seven reservoir plants. It is diversified across 10 river systems and all plants have been in operation for several years. Energias de Portugal, S.A. (EDP S.A.) - Hydropower Portfolio is based in Lisbon, Portugal.


Deal Context for Seller #
Overall 1 of 1
Sector: Oil/Gas Exploration 1 of 1
Type: Divestiture 1 of 1
Country: Spain 1 of 1
Year: 2020 1 of 1
Size (of disclosed) 1 of 1