TotalEnergies sells GreenFlex to Oteis

[TotalEnergies Tower in Houston]
hapabapa/iStock Editorial via Getty Images

TotalEnergies (NYSE:TTE [https://seekingalpha.com/symbol/TTE]) has agreed to sell its sustainable consulting unit, GreenFlex, to French engineering group Oteis as part of its strategy to focus on energy production and supply, the oil and gas major said [https://seekingalpha.com/pr/20272727-totalenergies-sells-its-greenflex-affiliate-to-the-french-group-oteis-to-create-a-leading]on Tuesday.

Oteis intends to harness GreenFlex’s expertise in environmental and social consultancy, low-carbon energy performance, and transition financing to establish a major new player with a full range of services and solutions in its markets.

Following divestment, TotalEnergies (NYSE:TTE [https://seekingalpha.com/symbol/TTE]) will become a major GreenFlex customer, signing a contract for the production of French Energy Saving Certificates (CEEs).

Completion of the project is subject to the usual conditions, including the consultation of employee representatives and the authorization of the competition authorities, the company said.

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