REG-TOTAL Total and 174 Power Global to Jointly Develop 1.6 GW of Solar and Energy Storage Projects in the U.S.

TotalEnergies SEAnnouncement

14/01/2021 13:40

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Total and 174 Power Global to Jointly Develop 1.6 GW of Solar and Energy
Storage Projects in the U.S.

 

Total (Paris:FP) (LSE:TTA) (NYSE:TOT) and 174 Power Global, a wholly owned
Hanwha Group affiliate, have signed an agreement to form a 50/50 joint venture
(JV) to develop 12 utility-scale solar and energy storage projects of 1.6
gigawatts (GW) cumulative capacity in the United States, transferred from 174
Power Global’s development pipeline.

The first project started production in 2020, and the remainder will be put on
stream between 2022 and 2024. Located in Texas, Nevada, Oregon, Wyoming and
Virginia the projects will produce clean and reliable energy across the U.S.
and lead to the creation of jobs in engineering, construction and plant
operations.

The JV builds on a strong partnership that combines 174 Power Global’s
extensive solar project development experience in the U.S. with Total’s
decade-long international expertise in the development of solar projects.

“This transaction is a first significant step for Total in the US utility
scale solar market, in line with our 2025 ambition to achieve 35 GW of
renewables production capacity worldwide. I am confident that this will pave
the way to more opportunities in the US renewables and storage market,” said
Julien Pouget, Director Renewables of Total. “I am very pleased to extend
our long-standing cooperation with the Hanwha Group into renewable energies
and successfully contribute to the development of solar power generation in
the US”.

“We are pleased to partner with Total and see significant opportunities for
our JV to expand our solar and energy storage footprint,” said 174 Power
Global President and CEO, Henry Yun, PhD. “Both 174 Power Global and Total
have a strong understanding of one another’s business strategies and
investment standards. This is a great partnership, and we are excited to work
with the Total team and further our joint commitment to clean renewable energy
and low-carbon investments.”

Total, renewables and electricity

As part of its ambition to get to net zero by 2050, Total is building a
portfolio of activities in renewables and electricity that could account for
up to 40 percent of its sales by 2050. At the end of 2020, Total's gross power
generation capacity worldwide was around 12 GW, including close to 7 GW of
renewable energy. With the objective of reaching 35 GW of production capacity
from renewable sources by 2025, Total will continue to expand its business to
become one of the world leaders in renewable energies.

About 174 Power Global

174 Power Global is a leading solar and energy storage project developer
focused on North America’s utility and C&I energy markets. The company
is wholly owned by the Hanwha Group, and has offices in Houston, Irvine,
California and New York City. With deep expertise across the full spectrum of
the project development cycle, 174 Power Global works closely with utilities,
landowners, local communities, financial investors, and other partners to
build highly productive, utility scale and C&I solar power plants
throughout North America. Since its formation in 2017, 174 Power Global has
signed over 3 gigawatts (GW) of power purchase agreements (PPAs) with more
than 8 GW of additional solar projects and 10GWh of ESS projects in the
development pipeline. 174 Power Global also is affiliated with Chariot Energy,
a retail energy provider that provides 100% clean, renewable solar energy to
the Texas market. Chariot Energy is transforming the energy supply for Texas
while modernizing and simplifying the way solar energy is sold and delivered.
174 Power Global’s name was inspired by the 174 petawatts (PW) of power the
earth receives from the sun at any moment.

About Total

Total is a broad energy company that produces and markets fuels, natural gas
and electricity. Our 100,000 employees are committed to better energy that is
more affordable, more reliable, cleaner and accessible to as many people as
possible. Active in more than 130 countries, our ambition is to become the
responsible energy major.

* * * * *

Cautionary note

This press release, from which no legal consequences may be drawn, is for
information purposes only. The entities in which TOTAL SE directly or
indirectly owns investments are separate legal entities. TOTAL SE has no
liability for their acts or omissions. In this document, the terms
“Total”, “Total Group” and Group are sometimes used for convenience.
Likewise, the words “we”, “us” and “our” may also be used to refer
to subsidiaries in general or to those who work for them.

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 TOTAL 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.

174 Power Global 

Kelly Kimberly +1.713.822.7538, kkimberly@sardverb.com 
(mailto:kkimberly@sardverb.com) 
Brian Armentrout +1.281.968.5635, Brian.armentrout@174powerglobal.com
(mailto:Brian.armentrout@174powerglobal.com)

Total Contacts 

Media Relations: +33 1 47 44 46 99 l presse@total.com
(mailto:presse@total.com) l @TotalPress

Investor Relations: +44 (0)207 719 7962 l ir@total.com (mailto:ir@total.com)



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