Energy Economy

10 May 2023

Totalenergies Potentially Interested in Acquiring Akuo

10 May 2023  by   

Image: Akuo Energy

A number of entities, including the investment unit of TotalEnergies, are interested in the planned sale of Akuo, according to French media reports.

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.

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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