TotalEnergies nears deal to buy gas power plants

Renewables drive: TotalEnergies’ logo at an event in Abu Dhabi. The French oil major is aiming to reach 100 gigawatts of renewable power globally by 2030. — Bloomberg

NEW YORK: TotalEnergies SE is nearing a deal to buy a fleet of natural gas-fired power plants in Texas as it looks to expand in the US market, according to people familiar with the matter.

The 2.3-gigawatt portfolio is owned by independent power producer TexGen Power LLC and provides capacity equivalent to more than two nuclear reactors.