Global integrated energy giant TotalEnergies has completed its long-anticipated acquisition of a 50% stake in EPH’s flexible power generation platform in Western Europe, finalizing a deal first agreed in 2025. 

 

The transaction has now cleared all regulatory hurdles and received approval from the boards of both companies, officially reshaping Europe’s flexible power landscape.

 

At the centre of the deal is the creation of TTEP, a new power generation platform headquartered in Amsterdam and positioned as the second-largest flexgen player in Europe.

 

TTEP brings together a major portfolio of flexible natural gas, biomass-based generation assets, and battery energy storage systems (BESS) spread across Italy, the United Kingdom, Ireland, the Netherlands, and France.

 

Combined, the platform represents around 14 GW of installed or under-construction capacity, with electricity output reaching nearly 30 TWh in 2025.

 

Under the structure of the new partnership, TotalEnergies and EPH have agreed tolling contracts with TTEP, enabling both shareholders to independently market their respective shares of electricity production. 

 

The platform also comes with a 5 GW development pipeline, positioning it as a central vehicle for future growth in flexible generation and large-scale storage across the five markets.

 

The transaction became effective on April 29, 2026.

 

In parallel, the governance reshuffle strengthens ties between the two partners.