REG-TotalEnergies SE TotalEnergies, Baker Hughes, Technip Energies, Azimut and other investors to invest in Zhero Europe's Green Energy Expansion

TotalEnergies SEAnnouncement

03/08/2023 08:15

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TotalEnergies, Baker Hughes, Technip Energies, Azimut and other investors to
invest in Zhero Europe's Green Energy Expansion

 

TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE), Baker Hughes, Technip
Energies, Azimut (through the fund Azimut ELTIF – Infrastructure & Real
Assets ESG) and other investors have signed preliminary agreement to invest in
Zhero Europe in order to develop large scale renewable energies projects in
Europe and Africa spanning across renewable power generation, power
interconnections and green molecules.

Zhero Europe was founded with the vision that large integrated projects,
including generation from high quality wind and solar resources, and captive
long-distance exports, would be the most effective way to accelerate the
energy transition in high demand areas.

With this round of financing, Zhero Europe will advance the development of its
project portfolio, leveraging the world class expertise of its new investors.

Paddy Padmanathan and Alessandra Pasini, respectively Chairmain and CEO of
Zhero Europe commented: “We are thrilled to welcome new investors who share
our ambition to accelerate the energy transition by delivering large scale
bankable projects that will inspire others to follow. Green energy is already
cheaper than fossil fuels in many countries and we need to accelerate project
development and construction to mitigate the growing gap between climate
action and climate ambition. There is no time to lose.”

Stephane Michel, President Gas, Renewables & Power at TotalEnergies said:
“Zhero Europe’s bold ambition is to bring abundant, affordable and clean
energy from the best producing location to the large consuming markets and
notably from North Africa, to Europe. We welcome the opportunity to join
forces with Zhero Europe and its other investors to support the development of
those pioneering projects for the mutual benefit of Europe and Africa.”

***

About Zhero

Zhero was founded by Marco Alverà, Paddy Padmanathan, Alessandra Pasini and
Enrico Vitali at a time when a new generation of renewables are positioned for
massive scale-up. The company is developing and will operate green energy
production and infrastructure projects in the US, Europe, Middle East and
Africa. Zhero is working towards a first target of bringing to FID 5GW of
projects by 2026.

TotalEnergies and renewables electricity

As part of its ambition to get to net zero by 2050, TotalEnergies is building
a portfolio of activities in electricity and renewables. At the end of July
2023, TotalEnergies' gross renewable electricity generation installed capacity
was 19 GW. TotalEnergies will continue to expand this business to reach 35 GW
of gross production capacity from renewable sources and storage by 2025, and
then 100 GW by 2030 with the objective of being among the world's top 5
producers of electricity from wind and solar energy.

About TotalEnergies

TotalEnergies is a global multi-energy company that produces and markets
energies: oil and biofuels, natural gas and green gases, renewables and
electricity. Our more than 100,000 employees are committed to energy that is
ever more affordable, cleaner, more reliable and accessible to as many people
as possible. Active in nearly 130 countries, TotalEnergies puts sustainable
development in all its dimensions at the heart of its projects and operations
to contribute to the well-being of people.

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Cautionary Note

The terms “TotalEnergies”, “TotalEnergies company” or “Company” in
this document are used to designate TotalEnergies SE and the consolidated
entities that are directly or indirectly controlled by TotalEnergies SE.
Likewise, the words “we”, “us” and “our” may also be used to refer
to these entities or to their employees. The entities in which TotalEnergies
SE directly or indirectly owns a shareholding are separate legal entities.
This document may contain forward-looking information and statements that are
based on a number of economic data and assumptions made in a given economic,
competitive and regulatory environment. They may prove to be inaccurate in the
future and are subject to a number of risk factors. Neither TotalEnergies SE
nor any of its subsidiaries assumes any obligation to update publicly any
forward-looking information or statement, objectives or trends contained in
this document whether as a result of new information, future events or
otherwise. Information concerning risk factors, that may affect
TotalEnergies’ financial results or activities is provided in the most
recent Universal Registration Document, the French-language version of which
is filed by TotalEnergies SE with the French securities regulator Autorité
des Marchés Financiers (AMF), and in the Form 20-F filed with the United
States Securities and Exchange Commission (SEC).

TotalEnergies 

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