Total to buy Belgian renewables firm Lampiris

Total to buy Belgian renewables firm Lampiris

French oil and gas major Total (LSE:TTA) has announced it is set to acquire all shares in Belgian firm Lampiris, the third largest supplier of natural gas and renewable power in Belgium.

Lampiris is an independent supplier of gas, green power and energy services and has been active in the Belgian energy market since 2005.

“The acquisition of Lampiris will give Total an agile operational platform and client expertise that will enable it to develop innovative offers and enter the residential electricity market,” said a spokesman from Total.

Lampiris has an estimated one million clients in Belgium and France and around 350 employees.

Total is looking to diversify its business model and step up its involvement in the green economy.

The firm announced last month plans to buy French battery and energy storage specialist Saft in a US$1.1 billion deal and continues to be a major player in the solar market since its acquisition of SunPower in 2011.

@RGNOnline