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| TTEP | |
|---|---|
| Type | Joint venture |
| Industry | Electric power |
| Headquarters | , Netherlands |
Area served | Europe |
| Owners |
|
TTEP is a European electricity generation and energy storage company jointly owned by TotalEnergies and Energetický a průmyslový holding (EPH). Based in Amsterdam, it operates gas- and biomass-fired power plants and battery energy storage systems in Italy, the United Kingdom, Ireland, the Netherlands and France.
TTEP was formed in April 2026 from EPH's Western European flexible-power business after TotalEnergies acquired a 50% interest. TTEP's portfolio had generated nearly 30 TWh of electricity in 2025.
In November 2025, TotalEnergies and EPH agreed to combine EPH's flexible-generation assets in Western Europe in a 50:50 joint venture. TotalEnergies acquired its stake in an all-share transaction worth €5.1 billion, valuing the business at €10.6 billion.
EPH received about 95.4 million newly issued TotalEnergies shares as consideration, giving it a stake of just over 4% in the French company.
The European Commission approved the joint venture in March 2026. The transaction was completed on 29 April 2026 and the joint venture was launched as TTEP.
Most of TTEP's generating capacity is gas-fired. The company also owns biomass plants and battery-storage facilities. Its main power plants are in Italy, the UK, Ireland and the Netherlands. In France, it's operating battery-storage projects.
When the joint venture was announced, the portfolio included about 6.1 GW of operating or planned capacity in Italy, around 5.4 GW of generation and battery capacity in the United Kingdom and Ireland, and about 2.8 GW in the Netherlands. It also had a development pipeline of approximately 5 GW across its markets.
TTEP serves as a vehicle for the two shareholders to develop additional flexible-generation capacity and large-scale battery-storage projects in the five countries in which it operates.