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Deals

Total CEO advises exploiting renewables M&A bubble

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LONDON (Reuters) - Total TOTF.PA Chief Executive Patrick Pouyanne said on Wednesday that there is a bubble forming in the merger and acquisitions market for renewable power projects, which Total aims to exploit by selling development projects.

“There is a bubble. But the mistake would be to make M&A today on renewables,” he told the Energy Intelligence Forum online conference.

“My advice to my colleagues is not to buy operated assets.”

Reporting by Shadia Nasralla and Ron Bousso, editing by Louise Heavens

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