EREN sells its renewable energy subsidiary and accelerates its development

Luxembourg, July the 25 th 2023 – EREN Groupe, a leading player in the saving of natural resources, has announced the sale of its subsidiary Total Eren to TotalEnergies and the acceleration of the Group’s development in the energy transition and the economic and industrial decarbonization market. The deal represents a key step for EREN Group and its future developments.

Total Eren, a successful partnership with TotalEnergies

Total Eren (formerly EREN RE), an EREN Groupe subsidiary founded in 2012 by Pâris Mouratoglou and David Corchia, is now a leading wind and solar independent power producer. Following a successful partnership lasting nearly six years, TotalEnergies, which held a stake close to 30% in Total Eren prior to the deal, has acquired the remaining shares of the company.

The Group’s partnership with TotalEnergies does not end here however, as EREN Groupe and TotalEnergies plan on continuing their collaboration particularly by developing wind and solar giga- projects dedicated to production of green hydrogen.

EREN Groupe, a renewable energy trailblazer

Over the past 20 years, Pâris Mouratoglou, David Corchia and their teams have significantly contributed to the expansion of new and renewable energy sources. From a worldwide perspective, they have executed projects with a combined capacity of more than 15 GW through ambitious and successful partnerships forged with major energy companies such as EDF in 2000 and TotalEnergies in 2017—as well as local businesses and entrepreneurs in over 40 countries.

EREN Groupe accelerates its development

The sale of Total Eren provides EREN Groupe with the financial resources necessary to fulfil its ambitions and heavily invest in its other business lines. For some years now, EREN has been broadening the scope of its ambitions beyond just renewable power projects to become a key player in the energy transition and decarbonization process. Combining technological partnerships and developments with its expertise as a developer of infrastructure projects all over the world, EREN aims to play a leading role on the international stage by deploying the most efficient new technologies in the fields of energy transition and decarbonization of the economy. Three focus areas for growth have already been established.

First, EREN Groupe seeks to accelerate its development in the field of thermal energy management in buildings. Its aim is to leverage new technologies developed in the past 10 years to reduce the energy consumption of buildings by over 70%, as well as their CO 2 emissions by more than 80% without altering the building structure.

Second, the Group will focus on the recovery of energy from organic sludge and wastewater, the farming of biomass and its use in an optimal, environmentally friendly, and socially balanced way, as well as the production of renewable gas and green hydrogen.

Lastly, the deployment of new generation nuclear technologies will be a longer-term focus area, forming part of the Group’s strategy of offering low-carbon energy production close to consumption centers.

EREN has established strong bases in all these sectors as well as others that the Group has identified. Today’s overall goal is to boost their growth potential through the utilization of the financial resource that will be generated from the sale of Total Eren.

Société Générale and Flack & Cie acted as financial advisors to Eren Groupe.

Pâris Mouratoglou, Chairman of EREN Groupe, says: “I would first of all like to thank all the teams at Total Eren for their unwavering commitment, as well as the management team at TotalEnergies for its support in building a renewable energy production leader over the last few years. The new structure within TotalEnergies has everything it needs to maintain this momentum and become the industry leader. As for EREN Groupe, we are starting a new chapter in our history. Several decades ago, we began focusing on low-carbon energy generation, energy savings, and decarbonized practices. We will now be able to pursue these efforts with even greater resources and ambition. I am already looking forward to the next steps.”

David Corchia, co-Founder and CEO of Total Eren, adds: “With Fabienne Demol, Laurence Juin, Thierry Clementz, Yonatan Shek and, more recently, Emmanuel Bonifacio, we have built another renewable energy leader in less than 10 years. We owe this success to the Total Eren teams, the best in the industry, as well as to Bpifrance, Tikehau, Peugeot Invest, and NextWorld, which joined us in 2015. I now look forward to continuing our hydrogen journey with TotalEnergies, which consistently supported our development for almost six years. We are now going to ramp up EREN Groupe’s growth with Pâris and Jacques Ripoll—our new partner who joined us almost a year ago, bringing unmatched expertise and experience to our Group.”

About EREN Groupe:

Founded more than 20 years ago by Pâris Mouratoglou, EREN Groupe is a player dedicated to the preservation of natural resources. It remains the pioneer of renewable energies in Europe and today holds, through its subsidiary Total Eren, nearly 3.5 GWs of renewable energy assets in operation or under construction across the five continents. At the same time, EREN Groupe has developed expertise in reducing the energy consumption and therefore the carbon footprint of buildings, through the optimization of their control systems and the use of thermal geo storage. Finally, it has historically been a committed player in the worlds of sports and music, notably through the Patrick Mouratoglou Tennis Academy and the Medici company, the latter of which is the world leader in classical music.

Pour plus d’informations : www.eren-groupe.com

Press contacts

Brunswick Group: Sarah Levy-Quentin, EREN@brunswickgroup.com, Tel: +33 (0)7 88 72 28 94

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