TotalEnergies is strengthening its shift toward electricity, announcing a fresh $6 billion push into power generation across Europe—a move that places the French energy giant on a different path from competitors increasing their fossil-fuel output.

The company revealed plans to acquire half of a broad portfolio of power assets held by Energeticky a Prumyslovy Holding (EPH), the Czech investment group led by billionaire Daniel Křetínský. The transaction, structured entirely in shares, will hand EPH a stake worth about €5.1 billion ($5.9 billion), giving it roughly 4.1% ownership in TotalEnergies and making it one of the firm’s biggest shareholders.

TotalEnergies says the investment is part of its long-term goal to build an electricity business capable of delivering profits on par with its traditional oil and gas operations. While many global oil majors are doubling down on fossil fuels, the company is accelerating its renewable and power-focused strategy, betting that demand for low-carbon energy will continue to rise across the region.