TotalEnergies: will not do big deals in renewables sector, plays down Engie bid talk – EQ Mag Pro
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PARIS : French company TotalEnergies (TTEF.PA) will not make any big acquisition in the renewables industry due to the sector’s high valuations, said company head Patrick Pouyanne, who also played down talk of interest in Engie (ENGIE.PA).
Asked at an investor day event about the Engie bid chatter, Pouyanne replied: “I am not sure it would be a big producer of renewable energy since, in terms of wind and solar power, we are also big and actually even a bit bigger.”
“I shall tell you why we would not do it. It is because those sorts of companies, and there are a few others such as Orsted and some other well-known names – they are extremely expensive,” added Pouyanne.
Source: Reuters
