White & Case advises EPH on completion of joint venture with TotalEnergies to create one of Europe’s leading flexible power generation platforms

Global law firm White & Case LLP has advised Energetický a průmyslový holding, a.s. (EPH) on the completion of a 50/50 joint venture (JV) with TotalEnergies to create TTEP.

TTEP will operate and develop a leading flexible power generation portfolio across selected European markets including Italy, the Netherlands, the UK and Ireland and France.

TotalEnergies and EPH have agreed to enter into tolling contracts with TTEP, enabling both partners to independently market their respective shares of production. Beyond existing operations, TTEP holds a 5 GW project portfolio, serving as the preferred investment vehicle for both shareholders to advance flexible power generation and large-scale battery solutions across the five target markets.

The transaction became effective on April 29, 2026. Following the approval by the TotalEnergies SE Board of Directors, EPH has been issued approximately 95.4 million shares, representing approximately 4.2% of TotalEnergies’ share capital.

EPH is one of Europe’s largest privately owned energy groups, operating a vertically integrated portfolio of energy infrastructure and flexible power generation across Western and Central Europe. It focuses on gas transmission and distribution, gas storage, heat infrastructure and power generation, with a substantial share of activities in regulated, quasi-regulated, contracted or hedged segments.

TotalEnergies is a global integrated energy company that produces and markets energies: oil and biofuels, natural gas, biogas and low-carbon hydrogen, renewables and electricity. It has more than 100,000 employees and is active in around 120 countries.

The White & Case team which advised on the completion of the transaction was led by John Cunningham, Nick Matthew (both London) and Vit Stehlik (Prague) and included partners Catherine Hill, Elizaveta Bazarova, Marc Israel, Nicholas Greenacre (all London), Franck De Vita and Alexandre Jaurett (both Paris), local partner Sara Scapin (Milan), counsel Lis Blunsdon (London) and Kate Kelliher (London & Brussels) and associates Oliver Wilson, Trishala Naidu, Brendan Lian, Lauren Vallender, Neal Chandru, Azamat Gaysenov, Bethany Carter, Chloe Edwards, Francesca MacSwiney, Sam Ahmad (all London), Simon Martin-Gousset (Paris) and Francesco Barcellini (Milan).

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