TotalEnergies sells sustainable consultancy GreenFlex to Oteis

TotalEnergies said it has agreed to sell its sustainable consultancy and solutions affiliate GreenFlex to Paris-based consulting and engineering group Oteis Conseil & Ingenierie.

The Paris-based oil, gas and renewable energy producer did not disclose the financial details of the transaction.

TotalEnergies said Oteis' ability to integrate new teams and develop their skills has delivered "strong growth" in recent years.

"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 on their markets," the company added.

GreenFlex will gain the opportunity to expand into new markets, TotalEnergies noted.

Following divestment, TotalEnergies will become a major customer of GreenFlex, and will sign a contract for the production of French energy saving certificates.

The firm said completion of the deal is subject to the usual conditions, including the consultation of employee representatives and the authorisation of the competition authorities.