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Total snaps up French wind, solar developer Vents d'Oc

Total SA has snapped up renewables developer Vents d'Oc Énergies Renouvelables, adding to its development pipeline in France as the oil and gas major continues to expand into the power sector.

The French group said in an Aug. 26 news release that the acquisition comes with more than 200 MW of projects in development, mainly onshore wind. Vents d'Oc, founded in 2002 and based in Montpellier, specializes in developing, financing and operating wind and solar photovoltaic projects. The company was sold by Windwärts Energie GmbH, a subsidiary of German energy supplier MVV Energie AG, for an undisclosed amount.

Over the last few years, Total has started moving more aggressively into power and renewables alongside other European majors, most notably buying a stake in renewable developer Total Eren SA in 2017 and acquiring French power and gas retailer Direct Energie last year. Rivals Royal Dutch Shell PLC and BP PLC have led the pack, although electricity and renewable investments still represent only a fraction of the groups' capital spending.

"This acquisition reinforces Total's commitment to the development of renewable energies in France. It is part of the group's growth strategy for the entire low-carbon electricity value chain in France, from natural gas or renewable generation to sales via Total Direct Energie," Philippe Sauquet, general manager of Total's gas, renewables and power business, said in a statement announcing the deal.

Vents d'Oc will be integrated into Quadran, Total's French renewables subsidiary that joined the group as part of the Direct Energie deal. Quadran now has a portfolio of more than 830 MW across solar, wind and hydroelectric power plants and Total operates more than 3,000 MW of renewable generation in total, the company said.

Total said it also won nearly 15% of the allocated volumes in a recent tender for renewables in France, securing a total capacity of 114 MW across 14 projects.