- The acquisition aligns with TotalEnergies’ broader push into large-scale renewable energy projects across Africa.
- Scatec is recalibrating its business model through this sale, streamlining its focus on solar, wind, and battery storage solutions.
TotalEnergies has strengthened its position in Africa’s renewable energy sector by acquiring a 51% stake in a hydroelectric power venture previously owned by Scatec. The deal marks a strategic shift for both companies—Scatec refocusing on its core technologies and markets, while TotalEnergies deepens its investment in Africa’s growing hydroelectric industry.
The acquisition aligns with TotalEnergies’ broader push into large-scale renewable energy projects across Africa. As global energy companies transition toward cleaner power sources, hydroelectricity has become a key component of TotalEnergies’ strategy to expand its renewable portfolio in emerging markets.
For Scatec, the sale reflects a recalibration of its business model, streamlining its focus on solar, wind, and battery storage solutions—sectors where the company has seen significant growth. By divesting from hydroelectric ventures, Scatec aims to optimise its asset base and strengthen its presence in high-growth renewable energy segments.
TotalEnergies and Scatec didn’t disclose the transaction’s financial terms, but industry analysts suggest the move could signal increased competition among global energy giants for Africa’s untapped hydroelectric potential. With abundant water resources and rising energy demands, African nations increasingly turn to hydropower as a stable and sustainable solution for their electricity needs.
The deal is expected to bolster TotalEnergies’ influence in Africa’s energy market while allowing Scatec to consolidate its efforts in other renewable sectors. The shift underscores a broader trend of energy firms repositioning themselves to capitalise on evolving opportunities in the clean energy transition.