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TotalEnergies Inks a Renewable Electricity PPA With Saint-Gobain
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TotalEnergies SE (TTE - Free Report) announced that it has signed a Power Purchase Agreement (“PPA”) with Saint-Gobain. Per the terms of the agreement, TotalEnergies will supply renewable electricity to Saint-Gobain’s French facilities. It will take effect from January 2026 for a total volume of 875 gigawatt-hour (GWh) over a period of five years.
This new contract with Saint-Gobain demonstrates TotalEnergies’ shared commitment to decarbonizing the French industry. It also demonstrates TTE’s ability to provide energy solutions that meet the company’s customer needs while guaranteeing the origin of the green electricity supplied.
TotalEnergies will provide Saint-Gobain with a baseload supply of electricity and guarantees of origin for that amount of power, produced by TotalEnergies’ wind and solar plants in the northeast and south of France, and the Loire Valley.
The renewable electricity supply agreement between the two companies marks the completion of a previous agreement (signed in June 2023), under which TotalEnergies has to sell biomethane produced at its BioBéarn plant to Saint-Gobain.
TTE’s Focus on Clean Energy
In an effort to reach net zero emissions by 2050, the company is developing a world-class, cost-competitive portfolio that combines flexible assets like combined-cycle gas turbines and storage with renewable energy sources like solar, onshore and offshore wind. The idea is to provide clean, reliable electricity to its customers.
By mid-2024, TotalEnergies’ gross installed renewable electricity capacity had reached 24 GW. It continues to develop this activity and plans to reach 35 GW of clean electricity production by 2025 and more than 100 TWh by 2030.
In France, TotalEnergies has a renewable energy portfolio of more than 2 GW, avoiding the emission of 800,000 tons of carbon dioxide every year.
Other Companies’ Focus on Renewable Energy
Along with TTE, other companies like BP plc (BP - Free Report) , ExxonMobil Corporation (XOM - Free Report) and Equinor ASA (EQNR - Free Report) are also set to lower emissions and increase renewable energy operations.
BP has set an aggressive energy transition plan to capitalize on the mounting demand for clean energy. By 2030, it plans to reduce emissions from operations by 30-35%. BP has set an ambitious goal of developing 50 GW of net renewable energy generating capacity by 2030.
BP’s long-term (three to five years) earnings growth rate is 2%. The Zacks Consensus Estimate for 2024 sales indicates a year-over-year increase of 7.9%.
ExxonMobil has been working to reduce emissions by developing more efficient fuels. The company intends to make large investments in emission-reduction projects over the next few years. By 2050, it plans to achieve a net-zero ambition by electrifying operations, using lower-carbon power and upgrading equipment.
XOM’s long-term earnings growth rate is 3%. The Zacks Consensus Estimate for 2024 sales indicates a year-over-year increase of 5.2%.
EQNR is actively investing in renewable energy projects, including power generation from solar and wind energy. Equinor aims to attain profitable growth within renewables and expects a production capacity of 4-6 GW and 12-16 GW by 2026 and 2035, respectively.
EQNR’s long-term earnings growth rate is 2.2%. The Zacks Consensus Estimate for 2024 earnings per share indicates a year-over-year decrease of 3.8%.
Find the latest EPS surprise estimates and surprises on Zacks Earnings Calendar.
TTE’s Stock Price Performance
In the past six months, shares of TotalEnergies have lost 7% compared with the industry’s 10.6% decline.
Image Source: Zacks Investment Research
TTE’s Zacks Rank
The company currently has a Zacks Rank #5 (Strong Sell).
Image: Bigstock
TotalEnergies Inks a Renewable Electricity PPA With Saint-Gobain
TotalEnergies SE (TTE - Free Report) announced that it has signed a Power Purchase Agreement (“PPA”) with Saint-Gobain. Per the terms of the agreement, TotalEnergies will supply renewable electricity to Saint-Gobain’s French facilities. It will take effect from January 2026 for a total volume of 875 gigawatt-hour (GWh) over a period of five years.
This new contract with Saint-Gobain demonstrates TotalEnergies’ shared commitment to decarbonizing the French industry. It also demonstrates TTE’s ability to provide energy solutions that meet the company’s customer needs while guaranteeing the origin of the green electricity supplied.
TotalEnergies will provide Saint-Gobain with a baseload supply of electricity and guarantees of origin for that amount of power, produced by TotalEnergies’ wind and solar plants in the northeast and south of France, and the Loire Valley.
The renewable electricity supply agreement between the two companies marks the completion of a previous agreement (signed in June 2023), under which TotalEnergies has to sell biomethane produced at its BioBéarn plant to Saint-Gobain.
TTE’s Focus on Clean Energy
In an effort to reach net zero emissions by 2050, the company is developing a world-class, cost-competitive portfolio that combines flexible assets like combined-cycle gas turbines and storage with renewable energy sources like solar, onshore and offshore wind. The idea is to provide clean, reliable electricity to its customers.
By mid-2024, TotalEnergies’ gross installed renewable electricity capacity had reached 24 GW. It continues to develop this activity and plans to reach 35 GW of clean electricity production by 2025 and more than 100 TWh by 2030.
In France, TotalEnergies has a renewable energy portfolio of more than 2 GW, avoiding the emission of 800,000 tons of carbon dioxide every year.
Other Companies’ Focus on Renewable Energy
Along with TTE, other companies like BP plc (BP - Free Report) , ExxonMobil Corporation (XOM - Free Report) and Equinor ASA (EQNR - Free Report) are also set to lower emissions and increase renewable energy operations.
BP has set an aggressive energy transition plan to capitalize on the mounting demand for clean energy. By 2030, it plans to reduce emissions from operations by 30-35%. BP has set an ambitious goal of developing 50 GW of net renewable energy generating capacity by 2030.
BP’s long-term (three to five years) earnings growth rate is 2%. The Zacks Consensus Estimate for 2024 sales indicates a year-over-year increase of 7.9%.
ExxonMobil has been working to reduce emissions by developing more efficient fuels. The company intends to make large investments in emission-reduction projects over the next few years. By 2050, it plans to achieve a net-zero ambition by electrifying operations, using lower-carbon power and upgrading equipment.
XOM’s long-term earnings growth rate is 3%. The Zacks Consensus Estimate for 2024 sales indicates a year-over-year increase of 5.2%.
EQNR is actively investing in renewable energy projects, including power generation from solar and wind energy. Equinor aims to attain profitable growth within renewables and expects a production capacity of 4-6 GW and 12-16 GW by 2026 and 2035, respectively.
EQNR’s long-term earnings growth rate is 2.2%. The Zacks Consensus Estimate for 2024 earnings per share indicates a year-over-year decrease of 3.8%.
Find the latest EPS surprise estimates and surprises on Zacks Earnings Calendar.
TTE’s Stock Price Performance
In the past six months, shares of TotalEnergies have lost 7% compared with the industry’s 10.6% decline.
Image Source: Zacks Investment Research
TTE’s Zacks Rank
The company currently has a Zacks Rank #5 (Strong Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.