REG-TotalEnergies SE United States: TotalEnergies Signs a New Long-term Solar Power Supply Agreement With Saint-Gobain

TotalEnergies SEAnnouncement

02/10/2023 12:00

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United States: TotalEnergies Signs a New Long-term Solar Power Supply
Agreement With Saint-Gobain

 

TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) has signed a new 15-year
renewable Power Purchase Agreement (PPA) with Saint-Gobain. This is the second
long-term solar power supply agreement designed to help decarbonize the power
consumption of the building materials company’s 125 industrial sites in
North America.

By signing this PPA with Saint-Gobain, TotalEnergies is once again
demonstrating its commitment to offering tailor-made renewable energy
solutions to businesses worldwide, as it has done with Air Liquide, Amazon,
Merck, Microsoft, Orange and Sasol.

Under the 100 MW PPA, TotalEnergies will supply clean energy from its Danish
Fields Solar farm (Texas), helping offset Saint-Gobain’s North American
Scope 2 CO(2) emissions from electricity by 90,000 metric tons per year. With
a capacity of 720 MW, TotalEnergies’ solar farm is expected to come online
in 2024 and will be the Company’s largest utility-scale operated solar farm
in the United States. This contract includes an upside sharing mechanism,
under which the companies share any potential upside arising from increased
market price over the contract term.

“We are truly excited to reinforce our collaboration with Saint-Gobain with
this new clean energy commitment and therefore contribute to their carbon
neutrality roadmap,” said Vincent Stoquart, Senior Vice President,
Renewables at TotalEnergies. “TotalEnergies’ growing solar power
generation portfolio in the U.S. provides concrete solutions enabling our
industrial customers to decarbonize their electricity consumption. The signing
of upside sharing CPPAs contributes to the objective of profitable growth for
our Integrated Power business.”

Commenting on this agreement, Mark Rayfield, CEO of Saint-Gobain North
America, added: “With this agreement, Saint-Gobain North America will
further reduce its CO(2 )emissions, demonstrating how fast the manufacturing
industry can transform when long term solutions are at hand. This renewable
energy project is a new milestone on the way to meeting Saint-Gobain’s
commitment to reduce scope 1 and 2 CO(2) emissions by 33% by 2030 - compared
to 2017 - and to reach carbon neutrality by 2050.”

TotalEnergies is one of the top renewable energy developers in the United
States, with a portfolio of large-scale solar, storage, onsite B2B solar
distributed generation, onshore and offshore wind projects that are expected
to generate up to 10 GW of renewable power by 2025 and more than 25 GW by
2030.

***

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.
TotalEnergies SE has no liability for the acts or omissions of these 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 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 Contacts

Media Relations: +33 (0)1 47 44 46 99 l presse@totalenergies.com
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Investor Relations: +33 (0)1 47 44 46 46 l ir@totalenergies.com
(mailto:ir@totalenergies.com)



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