TotalEnergies' Strategic Shift: Selling 50% of UK Gas Power Plant

TotalEnergies, a global energy giant, has recently announced a strategic move in the UK energy market. The company has decided to sell 50% of its shares in West Burton Energy, a gas-fired power plant, to EPUKI, the UK subsidiary of EPH. This transaction is a significant step in TotalEnergies' Integrated Power strategy, aiming to optimize its portfolio and align with its net-zero objectives. Let's delve into the implications of this sale and its impact on TotalEnergies' Integrated Power business.

West Burton Energy, acquired by TotalEnergies in June 2024, owns a 1.3 GW gas-fired power plant and a 49 MW battery storage system in the United Kingdom. The plant will continue to be operated by a joint venture between TotalEnergies and EPUKI following the sale. This strategic partnership allows TotalEnergies to maintain operational influence while freeing up capital for its ambitious renewable energy expansion targets.

The sale of 50% of West Burton Energy's shares to EPUKI optimizes TotalEnergies' power generation portfolio by adjusting its net flexible generation capacity to 700 MW. This alignment supports TotalEnergies' Renewables growth in the UK and contributes to the objective of its Integrated Power business to reach a 12% return by 2030. The integration of flexible and renewable assets will enhance grid stability and support TotalEnergies' net-zero objectives.



TotalEnergies' presence in the UK is significant, with over 1,800 employees across the energy value chain. The company operates around 30% of the UK Continental Shelf's gas production, with average daily production of 142,000 barrels of oil equivalent per day (boe/d) in 2023. TotalEnergies' renewable portfolio in the UK includes 1.1 GW of gross installed capacity and 4.5 GW under development, complemented by the acquisition of gas-fired power plants with a total output of 1.3 GW in 2024.

This strategic move by TotalEnergies reflects its broader strategy of optimizing its power generation portfolio while pursuing net-zero objectives and maintaining a strong market presence in the UK energy sector. The sale of 50% of West Burton Energy's shares to EPUKI demonstrates TotalEnergies' intelligent approach to balancing its power generation portfolio, ensuring stable revenue streams while advancing towards its renewable energy targets.

In conclusion, TotalEnergies' sale of 50% of its shares in West Burton Energy to EPUKI is a strategic move that optimizes its portfolio and aligns with its net-zero objectives. This transaction allows TotalEnergies to maintain operational influence while freeing up capital for its ambitious renewable energy expansion targets. The integration of flexible and renewable assets will contribute to grid stability and support TotalEnergies' Integrated Power business in achieving a 12% return by 2030.