Bpifrance, Tikehau Capital, Peugeot Invest and NextWorld announce the sale of their stake in Total Eren

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!”

José Gonzalo, Executive Director of Direct Investments at Bpifrance, added: “Total Eren has strongly grown in the last 8 years thanks to the wonderful work of its teams and the support of its shareholders, and we are proud to have supported them in their growth all over the world. This 8-year support is in line with Bpifrance's commitment to investing in companies that promote energy and environmental transition by contributing to the emergence of French leaders in renewable energies with ambitious plans and an ambitious project and attractive prospects. Total Eren is now a leading player in the renewable energy sector, and we are confident that TotalEnergies will be able to help Total Eren pursuing its significant growth.”

Mathieu Badjeck, Executive Director and co-head of Energy Transition Practice at Tikehau Capital, added: “It has been an honour to work alongside one of the best-in-class management teams in the renewables and energy transition sectors since 2015. The Company’s value proposition is fully aligned with Tikehau Capital’s commitment to supporting companies that are driving the decarbonisation of the economy. We wish the team at Total Eren every success in their future development.”

Bertrand Finet, CEO of Peugeot Invest, added: “We are proud to have supported Total Eren for close to 8 years, a leading player of the energy transition, in its substantial development across the globe. This has been a great journey alongside a talented team and valuable partners. We are pleased that the company is pursuing its growth trajectory and further contributing to a sustainable future alongside the French multi-energy leader”

Sébastien Lépinard, Founder and Managing Partner of NextWorld, added: “The work accomplished by the men and women of Total Eren over almost 10 years is remarkable, and we would like to congratulate them on realizing the ambitious strategic vision that Pâris and David had for this project. We are proud to have been able to support it from the outset, and to have contributed to a more sustainable natural resources economy”