TotalEnergies Acquires VSB Group for €1.57 Billion

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TotalEnergies Acquires VSB Group for €1.57 Billion

BAAR-ZUG, Switzerland - Leading global private markets firm Partners Group has agreed to sell VSB Group, one of Europe's leading renewable energy platforms, to TotalEnergies for an equity value of €1.57 billion. This transaction marks a significant milestone for VSB, which has shown notable growth since Partners Group's acquisition in 2020.

Founded in 1996 and headquartered in Germany, VSB operates across the entire renewable energy value chain, including the development, construction, ownership, and management of renewable energy projects. The company has developed over 2.3 gigawatts (GW) of renewable energy assets across various European countries and manages a total of 3 GW of assets. VSB has also ventured into e-mobility with charging infrastructure solutions.

Under Partners Group’s ownership, VSB's project portfolio grew from 8 GW to over 18 GW, while its operational and under-construction capacity increased from 53 megawatts (MW) to over 475 MW. The company's expansion into wind and solar photovoltaic (PV), battery storage, and e-mobility technologies, alongside improvements in talent management, resulted in a fivefold increase in its earnings before interest, taxes, depreciation, and amortization (EBITDA).

The sale was influenced by strong thematic tailwinds such as the decarbonization drive in Europe, regulatory support for clean energy, and a focus on energy independence. These factors have contributed to VSB's growth and are expected to continue doing so.

David Daum, Head of Infrastructure Europe and Partner at Partners Group, remarked that VSB was identified as a leading candidate to benefit from Europe's decarbonization efforts. He noted that it was the right time to exit the investment after the completion of value creation plans.

Maximilian Christ, Member of the Infrastructure Europe Management at Partners Group, highlighted VSB’s increased project development output and operational asset base during their tenure. He emphasized that the operational excellence initiatives and technology investments have created a strong foundation for VSB's future growth.

Partners Group's Infrastructure division manages assets worth $26 billion globally.