French Total signed an agreement with KKR-Energas to acquire two of its gas-fired combined cycle power plants in the north and east of France, the company said on Thursday.
Total said the plants represent an electricity generation capacity of approximately 825 megawatts.
"This acquisition allows Total to continue its integration along the gas and electricity value chain, from production to marketing," said Philippe Sauquet, president of gas, renewables and power in Total.
He asserted that gas-fired power generation sources are an ideal complement to intermittent renewable sources of electricity.
"These flexible power plants enable the group to optimize the cost of electricity supply to its customers," he said.
Through its 73 percent stake in French international utility company, Direct Energie, it has increased its electricity generation and market share in France. Total also has 800 megawatts capacity in two other power plants, each with 400 megawatts in France and in Belgium.
The development of another 400-megawatt plant is planned in the Brittany region.
By Murat Temizer
Anadolu Agency
energy@aa.com.tr