REG-TotalEnergies SE TotalEnergies: Renewables & Green Hydrogen: TE H2, CIP, and A.P. Møller Capital Partner for a Large-Scale Project in the Kingdom of Morocco

TotalEnergies SEAnnouncement

29/10/2024 09:30

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TotalEnergies: Renewables & Green Hydrogen: TE H2, CIP, and A.P. Møller
Capital Partner for a Large-Scale Project in the Kingdom of Morocco

 

TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE):

Under the presidency of His Majesty King Mohammed VI of Morocco and His
Excellency Emmanuel Macron, President of the French Republic, the government
of the Kingdom of Morocco and TE H2, along with its partners, signed a
Preliminary Contract for Land Reservation for the ‘Chbika’ project.

This agreement will allow TE H2, a joint venture between TotalEnergies and the
EREN Group, together with the two Danish companies, Copenhagen Infrastructure
Partners (CIP), through its Energy Transition Fund, and A.P. Møller Capital,
through its Emerging Markets Infrastructure Fund, to launch the pre-FEED
studies.

Located near the Atlantic coast in the Guelmim-Oued Noun region, the
‘Chbika’ project aims to build 1 GW of onshore solar and wind capacities
that will power the production of green hydrogen through the electrolysis of
desalinated seawater and its transformation into 200,000 tons per year of
green ammonia for the European market. This project will constitute the first
phase of a development program aimed at creating a world-scale green hydrogen
production hub.

TE H2 and CIP will be responsible for the development of renewable energy
production (solar, wind, green hydrogen, and its derivatives), while A.P.
Møller Capital will develop the port and associated infrastructure. This
contract, a first in Morocco, will highlight the country’s exceptional
renewable potential and contribute to the economic development of the Kingdom.

Patrick Pouyanné, Chairman and CEO of TotalEnergies, stated: “I would like
to thank the Moroccan authorities for awarding the ‘Chbika’ project and
for the trust they have shown in our subsidiary TE H2 and our partners. This
agreement is part of our strategy to develop production in countries with the
most competitive renewable resources, such as Morocco. Thanks to its
geographical proximity and the quality of its wind and solar resources,
Morocco indeed has the best assets to become a major partner for Europe in
achieving the goals of the Green Deal, and TotalEnergies aims to contribute to
this ambition.”

David Corchia, CEO of TE H2, added: “The signing of this Preliminary
Contract for Land Reservation is a decisive first step for the launch of our
investment program in Morocco. It demonstrates our commitment to developing
green hydrogen initiatives that support the country’s energy transition,
industrialization and job creation. The Kingdom has the potential to supply
affordable and clean energy to Europe while serving its own decarbonized
industrial development. Our consortium is strong, our overall Moroccan plan is
very ambitious, and I look forward to reinforcing further our collaboration
with local authorities and stakeholders and pursuing the work on this
promising project.”

Philip Christiani, partner at CIP, commented: “Morocco stands at the
forefront of the global energy transition equipped with all the essential
fundamentals to emerge as a key partner for Europe and the world in achieving
net zero targets. At Copenhagen Infrastructure Partners, we’re extremely
proud to be a part of this initiative with TEH2 and A.P. Møller Capital and
to be selected for the development of the first green hydrogen project under
the “Offre Maroc” framework.”

Kim Fejfer, CEO of A.P. Møller Capital, stated: We are proud to take this
important step in the development of the green hydrogen industry in Morocco,
building on the A.P. Møller Group’s long-standing history with the country.
Developing competitive transport infrastructure is part of what we do and a
fundamental part of green hydrogen value chains. We are looking forward to
bringing this project forward in close collaboration with our strong
consortium, Moroccan authorities and other stakeholders.

***

About TotalEnergies

TotalEnergies is a global integrated 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 provide as many
people as possible with energy that is more reliable, more affordable and more
sustainable. Active in about 120 countries, TotalEnergies places
sustainability at the heart of its strategy, its projects and its operations.

About TE H2

TE H2 is an 80/20 joint-venture formed by TotalEnergies and EREN Groupe,
specialized in developing and structuring large-scale green hydrogen projects
located in world-class sites benefitting from exceptional renewable resources,
such as North Africa, Latin America, and Australia. TE H2 is made up of an
expert team with extensive know-how in the development, construction and
operation of wind and solar projects globally. By combining technical
expertise and experience, TE H2 aims to deliver globally impactful renewable
energy projects that provide affordable, sustainable, reliable, and accessible
energy to as many people as possible.

About CIP

Founded in 2012, CIP today is the world’s largest dedicated fund manager
within greenfield renewable energy investments and a global leader in offshore
wind. The funds managed by CIP focus on investments in offshore and onshore
wind, solar PV, biomass and energy-from-waste, transmission and distribution,
reserve capacity, storage, advanced bioenergy, and Power-to-X. CIP’s Energy
Transition Fund I (CI ETF I) is the largest dedicated greenfield green
hydrogen fund worldwide.

CIP manages 12 funds and has to date raised approximately EUR 31 billion for
investments in energy and associated infrastructure from more than 180
international institutional investors. CIP has approximately 500 employees and
14 offices around the world.

About A.P. Møller Capital

Established in 2017, A.P. Moller Capital is a value-add infrastructure
manager, part of the A.P. Møller Group. A.P. Møller Capital draws on the
Group’s reputation, relationships, expertise, and values to invest across
the transportation and green energy sectors. A.P. Møller Capital’s team
combines our industrial heritage with private equity competence and is
supported by a network of global and local industry partners. A.P. Møller
Capital manages two funds, including the Emerging Markets Infrastructure Fund
II. A.P. Møller Capital is headquartered in Copenhagen and has offices in
Dubai and Singapore.

Cautionary Note

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. No entity under this Press
Release nor any of their 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.

TE H2 Contacts

Media Relations + 33 (0) 6 46 70 72 20 l lea.moreira@te-h2.com 
(mailto:lea.moreira@te-h2.com) 
Investor Relations +33 (0)1 47 44 46 46 l ir@totalenergies.com
(mailto:ir@totalenergies.com)

A.P. Møller Capital Contact

Media Relations +971 (0) 55 588 6592 l melanie.beck@apmollercapital.com 
(mailto:melanie.beck@apmollercapital.com) 
Investor Relations +45 (0) 20 44 93 77 l peter.nielsen@apmollercapital.com
(mailto:peter.nielsen@apmollercapital.com)

CIP Contacts

Media Relations – Simon Mehl Augustesen, +45 (0) 30 52 67 21 l siau@cip.com 
(mailto:siau@cip.com) 
Investor Relations – Thomas Kønig, +45 (0) 70 70 51 51 l cip@cip.com
(mailto:cip@cip.com)



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