TotalEnergies SE - TTE STOCK NEWS

Offshore Wind Power Limited (OWPL), a consortium including TotalEnergies (TTE), has proposed the West of Orkney Windfarm to power a green hydrogen production facility on Flotta Island, Scotland. This initiative aims to utilize offshore wind energy to support Scotland's transition to a hydrogen economy, with significant backing from local stakeholders and partners like Repsol Sinopec and Uniper. The proposal highlights Flotta's ideal conditions for green hydrogen production and the consortium's commitment to long-term energy sustainability.

TotalEnergies (TTE) is advancing its efforts toward sustainable development by implementing Qnergy's innovative technology to reduce methane emissions on the Barnett gas field in the U.S. Following successful pilot tests conducted in March 2021, the deployment of 100 units in 2021 and 2022 is expected to cut methane venting emissions by about 7,000 tons annually by 2024. TotalEnergies aims for a 20% reduction in absolute methane emissions from 2020 levels by 2025, building on a nearly 50% reduction since 2010.

TotalEnergies Petrochemicals & Refining USA, Inc. announces its partnership with the Polypropylene Recycling Coalition to enhance curbside recycling access for polypropylene. This initiative aligns with the company's goal of producing 30% recycled and renewable polymers by 2030. The coalition aims to increase polypropylene recycling rates similar to other plastics like PET and HDPE, through grants, consumer education, and infrastructure improvements.

TotalEnergies has strengthened its renewable energy portfolio through Adani Green Energy's acquisition of SB Energy India from SoftBank Group and Bharti Group. The deal, valued at approximately USD 3.5 billion, allows TotalEnergies to add about 1.4 GWp of capacity to its projects. SB Energy India boasts a total renewable capacity of 5 GWac, primarily consisting of solar and wind energy projects with long-term contracts. This acquisition is pivotal for TotalEnergies in achieving its goal of 35 GW of renewable capacity by 2025 and securing a position in the top 5 renewable energy producers globally by 2030.

On October 1, 2021, Air France Flight 6235 marked a significant milestone by operating a flight fueled with 30% Sustainable Aviation Fuel (SAF) produced by TotalEnergies. This flight from Nice to Orly Airport in Paris is part of the Nice Transition Days, an international festival focused on ecological innovations. The use of SAF, made from waste and residues, aims to reduce the carbon footprint of air travel, preventing the emission of 3 tons of CO₂. This collaboration underscores the commitment of both public and private sectors to advance decarbonization in aviation.

TotalEnergies has unveiled an expansion at Synova in Normandy, doubling its mechanical recycling capacity for recycled polypropylene to meet rising demand from sectors like automotive and construction. This extension aims for production of nearly 45,000 tons annually, utilizing advanced mechanical recycling methods. The company targets 30% of its polymer production to be recycled or renewable by 2030. TotalEnergies is also actively involved in chemical recycling and is a leader in bioplastics, emphasizing its commitment to sustainable practices and circular economy initiatives.

TotalEnergies (TTE) is joining forces with Air Liquide and VINCI to establish the world’s largest fund dedicated to clean hydrogen infrastructure, aiming to raise 1.5 billion euros with initial commitments of 800 million euros.

This fund will invest in the renewable and low-carbon hydrogen value chain across key global regions, including the Americas, Asia, and Europe, targeting significant strategic projects. TotalEnergies has committed 800 million euros, positioning itself as a leader in the energy transition through clean hydrogen initiatives.

TotalEnergies has released the Environmental, Safety and Health Impact Assessment (ESHIA) for its Arctic LNG 2 project, where it holds a 21.64% stake. The project aims to minimize environmental impacts while promoting biodiversity through various plans, including the Biodiversity Conservation Management Program and the Biodiversity Action Plan. The first LNG train is expected to start delivering in 2023, contributing to energy needs in Asia and aiding in greenhouse gas reduction efforts. TotalEnergies emphasizes its commitment to sustainable development and biodiversity protection.

A consortium comprising TotalEnergies, Macquarie's Green Investment Group, and RIDG has submitted a bid for the West of Orkney Windfarm, a two-gigawatt offshore wind project near Orkney Islands. This project aims to power over two million homes and is part of the ScotWind leasing round currently under review by Crown Estate Scotland. The consortium has established key partnerships within the local community and has conducted extensive site investigations, with project generation expected to commence in 2029. If awarded, this aligns with TotalEnergies' goal of reaching 100 GW of renewable generation capacity by 2030.