REG-TOTAL United States: Total Adds 2.2 GW to its U.S. Solar Portfolio and Covers All Its Power Consumption in the Country With Green Electricity

TotalEnergies SEAnnouncement

05/02/2021 09:10

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United States: Total Adds 2.2 GW to its U.S. Solar Portfolio and Covers All
Its Power Consumption in the Country With Green Electricity

 

Total (Paris:FP) (LSE:TTA) (NYSE:TOT) strengthens its presence in the U.S.
market by acquiring a development pipeline of 2.2 GW of solar projects, and
600 MW of battery storage assets, all located in Texas. The projects are
bought from SunChase Power, a renewable energy company focused on developing
utility-scale energy projects, and MAP RE/ES, a private energy investment
firm.

This announcement comes after recent news of a joint venture with 174 Power
Global to develop 1.6 GW in the United States.

The pipeline consists of four large-scale solar projects, each with co-located
battery energy storage systems (BESS), in industrial areas close to Houston
that have high demand for electricity. Construction of the first two projects
is expected to start later this year. All projects will come online between
2023 and 2024. The remuneration paid by Total to Sunchase and MAP RE/ES will
be in staged payment as the projects advance.

Total will commit to a 1 GW corporate PPA sourced from this solar power and
energy storage portfolio in order to cover all the electricity consumption of
its operated industrial sites in the U.S., among which Port Arthur refining
and petrochemicals platform and La Porte and Carville petrochemical sites.

“I am very pleased that Total is further contributing to the development of
solar power in the U.S. We look forward to taking advantage of the many growth
opportunities in the U.S. market to address the challenges of the energy
transition, said Patrick Pouyanné, Chairman and CEO of Total. “With this
latest acquisition, Total is now developing close to 4 GW of renewable power
capacity in the U.S., thus contributing to our objective to reach close to 35
GW of renewable generation capacity by 2025. In addition, supplying green
electricity to all our industrial activities in the United States is concrete
proof of our ambition to achieve carbon neutrality by 2050.”

***

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 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 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.

Total 

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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