PARIS: French renewable energy company Total Eren has agreed to buy NovEnergia Holding Company, a power producer which Total Eren said was worth more than 1 billion euros ($1.1 billion).Total Eren said NovEnergia had a diversified portfolio of wind, solar and mini-hydro power plants representing a total net installed capacity of 657 MW and 47 fully operating assets.
"Acquiring the NovEnergia Holding Company deeply strengthens our footprint in the European market, where Total Eren already holds a historical and long-lasting presence in France, Greece and Italy," said Total Eren chairman Paris Mouratoglou.
It did not disclose how much it was paying to buy the company. ($1 = 0.8800 euros)