Published on 02/05/2021 at 10:03 am
Updated 02/05/2021 at 10:20 am
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Total is pushing its pawns in solar energy in the United States. strengthens its presence in the American market by acquiring a portfolio of 2.2 GW of solar projects and 600 MW of battery storage projects, all located in Texas. These projects are bought from SunChase Power, a renewable energy company specializing in the development of large-scale solar projects, and MAP RE / ES, a private energy investment company. This follows the recent announcement of a partnership with 174 Power Global to develop a 1.6 GW solar portfolio.
The portfolio consists of four large solar projects, each with associated battery energy storage systems, in industrial areas near Houston with high electricity demand. Construction of the first two projects is scheduled to begin later this year. All of the projects will be commissioned between 2023 and 2024. Remuneration paid by Total to Sunchase and MAP RE / ES will be phased in as the projects progress.
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Total will enter into a 1 GW power purchase agreement (PPA) from this portfolio of solar energy and energy storage to cover all the electricity consumption of its industrial sites operated in the United States, including the Port Arthur refining-petrochemicals platform and the La Porte and Carville petrochemical sites.
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“I am very happy that Total is thus contributing to the development of solar electricity in the United States. We are ready to take advantage of the many growth opportunities in the American market to meet the challenges of the energy transition”, said Patrick Pouyanné, Chairman and CEO of Total.
“Thanks to this transaction, Total is now developing nearly 4 GW of renewable energy capacity in the United States, which contributes to our goal of reaching nearly 35 GW of renewable generation capacity by 2025. Moreover, the fact supplying green electricity to all our industrial sites in the United States is concrete proof of our ambition to achieve carbon neutrality by 2050. “
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