August 27 (Renewables Now) - French oil and gas major Total SA (EPA:FP) has acquired compatriot Vents d'Oc Energies Renouvelables -- a renewable energy company with a project development portfolio of 200 MW, mostly wind.
Vents d'Oc is involved in the planning, development, financing and post-completion operation of solar and wind parks. The Montpellier-based firm was previously part of Germany's Windwarts Energies.
The transaction was carried out through renewables developer Quadran, a subsidiary of Total, and further boosts the oil and gas group’s renewables operations, Total said on Monday. Quadran currently operates a portfolio of more than 830 MW of solar, wind and hydropower plants.
Financial details about the deal were not provided. As of September 1, 2019, Quadran will change its name to Total Quadran.
Total noted it has secured 14 projects totalling 114 MW in the latest renewables tender by the French energy regulatory commission (CRE). The French group’s goal is to have 10 GW of gas and renewable energy production capacity by 2023.