REG-TOTAL Total Farms Down 2 Portfolios of Renewable Assets in France to Banque des Territoires and Crédit Agricole Assurances

TotalEnergies SEAnnouncement

23/02/2021 07:35

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Total Farms Down 2 Portfolios of Renewable Assets in France to Banque des
Territoires and Crédit Agricole Assurances

 

In line with its business model for the development of its renewables
business, Total (Paris:FP) (LSE:TTA) (NYSE:TOT), through Total Quadran - its
100% renewable electricity production subsidiary in France, farms down
respectively to Banque des Territoires and Crédit Agricole Assurances half of
its equity in two portfolios of renewable projects.


 * Crédit Agricole Assurances acquires a 50% stake in a portfolio consisting of
9 wind farms (103 MW) and 44 solar power plants (182 MW) for a total capacity
of 285 MW (100%).


 * Banque des Territoires takes a 50% stake in a portfolio consisting of 8 solar
farms located in New Caledonia with a total capacity of 53 MW (100%).

These farm-down transactions value these portfolios (close to cumulative 340
MW) at an enterprise value of around $600 million for 100%. They derisk the
Group portfolio, accelerate cash flow recognition and increase the return on
equity.

"These farm downs are the implementation of the business model we have defined
for the development of renewable energies aiming to achieve over 10% return on
equity. We are delighted to deepen our partnerships with both Banque des
Territoires and Crédit Agricole Assurances," said Julien Pouget, Senior Vice
President Renewables of Total.

"This transaction is in line with our strategy of being a long-term
institutional investor and diversifying on behalf of our clients. It is a
fully integrated strategy, in line with the Crédit Agricole Group's climate
commitments, in favor of energy transition and a low-carbon economy. We are
proud of this partnership with Total, which enables us to consolidate our
contribution to the energy transition in France," says Jean-Jacques Duchamp,
Deputy Chief Executive Officer of Crédit Agricole Assurances.

"This acquisition illustrates the Banque des Territoires' determination to
provide long-term support to players in the energy transition in the
deployment of new renewable energy projects in mainland France and the French
overseas territories," says Emmanuel Legrand, head of the Banque des
Territoires' Energy and Environmental Transition Department.

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% of its sales by 2050. At the end of 2020, Total's gross power
generation capacity worldwide was around 12 GW, including 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 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.

About Total Quadran

Total Quadran, a pioneer of renewable energies in France, develops, builds and
operates renewable electricity generation resources (wind, photovoltaic, hydro
and biogas). Total Quadran operates over 300 renewable energy plants in France
totaling nearly 900 MW, generating 1,675 GWh of renewable electricity per
year. This is the equivalent of the annual consumption of nearly 1,5 million
people and annual savings of nearly 560,000 tons of CO2 emissions.

About Crédit Agricole Assurances

Crédit Agricole Assurances, France's leading insurer, brings together Crédit
Agricole's insurance subsidiaries. The group offers a range of products and
services in savings, pensions, health, personal protection and property
insurance. They are distributed by the Crédit Agricole group's banks in
France and in nine countries around the world, by wealth management advisers
and tied agents. Crédit Agricole Assurances' companies serve individuals,
professionals, farmers and businesses. Crédit Agricole Assurances has 4,700
employees. 37.0 billion at the end of 2019 (IFRS).

www.ca-assurances.com
(https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.ca-assurances.com&esheet=52383663&newsitemid=20210222006020&lan=en-US&anchor=www.ca-assurances.com&index=1&md5=3c76c9f792f0315ae467d434380d851d)

About Banque des Territoires

Created in 2018, Banque des Territoires is one of the five business lines of
Caisse des Dépôts. It brings together all internal expertises designed for
the French territories. As a single client gateway, it offers tailor-made
advisory and financing solutions in loans and investments in order to meet the
needs of local authorities, social housing organizations, local public
companies and the legal professions. It is aimed at all kind of areas, from
rural to metropolitan areas, with the aim of tackling social inequalities and
territorial divisions. Banque des Territoires is deployed in all Caisse des
Dépôts regional divisions and territorial offices in order to be better
known and closer to its clients. Towards more attractive, inclusive,
sustainable and connected territories.

www.banquedesterritoires.fr
(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.banquedesterritoires.fr%2F&esheet=52383663&newsitemid=20210222006020&lan=en-US&anchor=www.banquedesterritoires.fr&index=2&md5=44b7038ac892b9c41227275acf37556a)
@BanqueDesTerr
(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Ftwitter.com%2FBanqueDesTerr%3Flang%3Dfr&esheet=52383663&newsitemid=20210222006020&lan=en-US&anchor=%40BanqueDesTerr&index=3&md5=5786d165a91b8516d1c6bb1c58f61403)

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.

Total Quadran Contact 

Elodie Billerey, Chargée de communication – Tel : 06 69 99 38 95 –
elodie.billerey@total-quadran.com (mailto:elodie.billerey@total-quadran.com)

Total Contacts 

Medias 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)

Contacts presse Crédit Agricole Assurances 

Françoise Bololanik + 33 (0)1 57 72 46 83 / 06 25 13 73 98

Géraldine Duprey + 33 (0)1 57 72 58 80 / 07 71 44 35 26

service.presse@ca-assurances.fr (mailto:service.presse@ca-assurances.fr)



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