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TotalEnergies (PARIS:TTE) (LSE:TTE) (NYSE:TTE) has signed a new 15-year renewable Power Purchase Agreement (PPA) with Saint-Gobain. This is the second long-term solar power supply agreement designed to help decarbonize the power consumption of the building materials company’s 125 industrial sites in North America.
By signing this PPA with Saint-Gobain, TotalEnergies is once again demonstrating its commitment to offering tailor-made renewable energy solutions to businesses worldwide, as it has done with Air Liquide, Amazon, Merck, Microsoft, Orange and Sasol.
Under the 100 MW PPA, TotalEnergies will supply clean energy from its Danish Fields Solar farm (Texas), helping offset Saint-Gobain’s North American Scope 2 CO2 emissions from electricity by 90,000 metric tons per year. With a capacity of 720 MW, TotalEnergies’ solar farm is expected to come online in 2024 and will be the Company’s largest utility-scale operated solar farm in the United States. This contract includes an upside sharing mechanism, under which the companies share any potential upside arising from increased market price over the contract term.
TotalEnergies is one of the top renewable energy developers in the United States, with a portfolio of large-scale solar, storage, onsite B2B solar distributed generation, onshore and offshore wind projects that are expected to generate up to 10 GW of renewable power by 2025 and more than 25 GW by 2030.
