TotalEnergies gets EU nod for Quadra Energy takeover

The European Commission (EC) today gave the go-ahead to French energy group TotalEnergies SE’s (EPA:TTE) agreement to acquire Quadra Energy, a German aggregator of renewable power production, from the Aloys Wobben Foundation (AWS).

The approval was granted unconditionally as the EU merger regulator has ruled that the proposed transaction is not expected to harm competition given the limited market position of the participants, according to a press release.

TotalEnergies clinched the deal in October without disclosing its financial details.

Set up in 2012, Quadra operates a 9-GW virtual power plant. In 2022, the company purchased production from around 5,000 wind and solar power plants and resold 14 TWh on wholesale markets, as well as to German resellers and customers.

Choose your newsletter by Renewables Now. Join for free!