TotalEnergies has entered into an agreement with Oteis, an independent French consulting and engineering firm, for the sale of its sustainable consultancy and solutions subsidiary, GreenFlex. This transaction is in line with TotalEnergies’ strategy to concentrate on its core energy production and supply businesses.
Oteis Conseil & Ingénierie, which has over 800 employees throughout France and Europe, specializes in construction, water and development, infrastructure, and industrial projects. The company boasts a solid growth record by integrating new teams and businesses, and it intends to utilize GreenFlex’s expertise in sustainability consulting, low-carbon energy performance, and transition financing to establish a comprehensive environmental and energy services platform.
For GreenFlex, this acquisition presents new opportunities to expand into additional markets while continuing its mission to assist businesses and communities in achieving their sustainability, decarbonization, and energy efficiency objectives.
After the sale, TotalEnergies will continue to be a significant customer of GreenFlex through a contract for the production of French Energy Saving Certificates (CEEs). The completion of this transaction is still subject to standard conditions, including employee consultations and regulatory approvals from competition authorities.
Source: TotalEnergies
