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South Africa: TotalEnergies Signs Renewable Power Purchase Agreements with Sasol and Air Liquide
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TotalEnergies has entered into Corporate Power Purchase Agreements (CPPA) with Sasol and Air Liquide in South Africa to supply 260 MW of renewable electricity over 20 years. This includes a 120 MW solar plant and a 140 MW wind farm, generating approximately 850 GWh per year for Sasol’s Secunda site. These projects, aimed at decarbonizing production, are expected to create jobs and contribute to South Africa's energy transition from coal to renewables. The projects are slated to be operational in 2025, pending regulatory approvals. TotalEnergies aims to increase its renewable capacity to 100 GW by 2030.
Positive
Signing of CPPA for 260 MW renewable electricity.
Creation of jobs and local community impact.
TotalEnergies aims to increase renewable capacity to 100 GW by 2030.
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None.
PARIS--(BUSINESS WIRE)--
Regulatory News:
TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) has signed Corporate Power Purchase Agreements (CPPA) with Sasol South Africa and Air Liquide Large Industries South Africa for the supply of 260 MW capacity of renewable electricity over 20 years.
TotalEnergies will develop a 120 MW solar plant and a 140 MW windfarm in the Western Cape province to supply around 850 GWh of green electricity per year to the Sasol’s Secunda site, located 700 kilometers further North-East, where Air Liquide operates the biggest oxygen production site in the world.
The two projects will provide competitive and available renewable electricity to decarbonize Sasol and Air Liquide’s production. These agreements demonstrate TotalEnergies’ positioning to contribute to the evolution of the energy mix in South Africa. The projects will have a direct impact on the local community through job creations.
“Power generation in South Africa is still 80% based on coal and power cuts occur daily. With these developments we are proud to support Air Liquide and Sasol for their supply of green electricity. Meanwhile, we are pleased to contribute to South Africa’s energy transition which consists of increasing its share of renewables and gas as an alternative to coal” said Vincent Stoquart, Senior Vice President, Renewables at TotalEnergies. “There is a dynamic market for corporate PPAs in South Africa and we want TotalEnergies to take a strong leadership position.”
The two projects are expected to be operational in 2025. The CPPAs with SASOL and Air Liquide were signed with a consortium of TotalEnergies Marketing South Africa1 (70%), its partner Mulilo (17%) and a to-be-announced B-BBEE partner (13%).
These projects are subject to regulatory approvals.
TotalEnergies and renewables electricity
As part of its ambition to get to net zero by 2050, TotalEnergies is building a portfolio of activities in electricity and renewables. At the end of 2022, TotalEnergies' gross renewable electricity generation installed capacity was 17 GW. TotalEnergies will continue to expand this business to reach 35 GW of gross production capacity from renewable sources and storage by 2025, and then 100 GW by 2030 with the objective of being among the world's top 5 producers of electricity from wind and solar energy.
About TotalEnergies
TotalEnergies is a global multi-energy company that produces and markets energies: oil and biofuels, natural gas and green gases, renewables and electricity. Our more than 100,000 employees are committed to energy that is ever more affordable, cleaner, more reliable and accessible to as many people as possible. Active in more than 130 countries, TotalEnergies puts sustainable development in all its dimensions at the heart of its projects and operations to contribute to the well-being of people.
The terms “TotalEnergies”, “TotalEnergies company” or “Company” in this document are used to designate TotalEnergies SE and the consolidated entities that are directly or indirectly controlled by TotalEnergies SE. Likewise, the words “we”, “us” and “our” may also be used to refer to these entities or to their employees. The entities in which TotalEnergies SE directly or indirectly owns a shareholding are separate legal entities. 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 TotalEnergies 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. Information concerning risk factors, that may affect TotalEnergies’ financial results or activities is provided in the most recent Universal Registration Document, the French-language version of which is filed by TotalEnergies SE with the French securities regulator Autorité des Marchés Financiers (AMF), and in the Form 20-F filed with the United States Securities and Exchange Commission (SEC).
1 TotalEnergies Marketing South Africa is a South African registered company of TotalEnergies (50.1%) and a number of South african BBBEE investors (49.9%).
