Czech billionaire Daniel Křetínský is set to become a significant shareholder in TotalEnergies following the sale of a stake in his electricity generation business, which includes power plants in the UK, to the French oil company. Křetínský agreed to transfer a 50% stake of his European power generation assets to TotalEnergies for approximately €5.1 billion (£4.5 billion), which will grant him about 4.1% of Total’s share capital.
With this transaction, Křetínský’s company, Energetický a průmyslový holding (EPH), will emerge as one of the largest investors in TotalEnergies. The deal will allow TotalEnergies to hold shares in various electricity generation facilities across the UK, France, the Netherlands, and Italy, established through a new joint venture. Křetínský expressed a strong interest in becoming a long-term shareholder of TotalEnergies and in contributing to a robust joint venture focused on flexible power generation in Europe.
Křetínský is recognized as the first foreign owner of Royal Mail in its 509-year history. He is ranked 22nd on the Sunday Times rich list with an estimated fortune of £7.79 billion, largely accrued from operations in coal, gas, and electricity generation. His business interests also include a 27% stake in West Ham United and a 10% share in Sainsbury’s.
The newly formed 50/50 joint venture will possess sufficient UK power stations to accommodate the electricity needs of over 3 million homes, including facilities like Lynemouth in Northumberland and Kilroot in Northern Ireland. This arrangement is expected to provide TotalEnergies with a reliable network of customers for liquefied natural gas and support the expansion of its power trading activities across Europe.
TotalEnergies is recognized as a leading oil and gas producer in the UK’s North Sea and is also actively investing in offshore wind farms and solar projects within the region. Meanwhile, a subsidiary of the Octopus Group has announced an agreement to acquire around 20 electricity distribution projects in the UK from Sweden’s Vattenfall, which will mark Vattenfall’s exit from the UK electricity distribution market while continuing its operations in renewable energy.
Source: https://www.theguardian.com/business/2025/nov/17/totalenergies-czech-tycoon-daniel-kretinsky-power-plants-shareholder