Gold prices steady ahead of Fed decision, Trump’s tariff deadline
PARIS - TotalEnergies (EPA:TTEF) (Paris:TTE) (LSE:TTE) (NYSE:TTE) has entered into a 15-year Power Purchase Agreement (PPA) with STMicroelectronics (NYSE:STM), a leading semiconductor company. This agreement, effective from January 2025, involves the supply of 1.5 terawatt-hours (TWh) of renewable electricity to STMicroelectronics’ French facilities.
The renewable energy will be sourced from two newly-operated wind and solar farms with a combined capacity of 75 megawatts (MW), managed by TotalEnergies. These farms will also provide structuration services to ensure a consistent supply of green electricity despite the intermittent nature of renewable sources. This deal marks the first of its kind in France, offering a 15-year contract for renewable energy.
Sophie Chevalier, Senior Vice President of Flexible Power & Integration at TotalEnergies, commented on the agreement, highlighting the company’s commitment to providing innovative and clean energy solutions to meet customer needs. TotalEnergies aims to be a key partner in assisting technology industries with their decarbonization efforts.
Geoff West, EVP and Chief Procurement Officer at STMicroelectronics, emphasized the significance of the PPA for the company’s objective to achieve carbon neutrality by 2027. This includes the goal of sourcing 100% renewable energy by the same year. The agreement with TotalEnergies will significantly contribute to the renewable energy supply for STMicroelectronics’ operations in France.
TotalEnergies is actively expanding its portfolio of renewable energy sources and flexible assets to provide clean power to its customers. By the end of 2024, the company’s installed capacity for renewable electricity generation reached over 24 GW, with plans to increase this to 35 GW by 2025 and produce more than 100 TWh of net electricity by 2030.
This PPA with STMicroelectronics is part of TotalEnergies’ broader strategy to support customer decarbonization, following similar agreements with other major companies. The information for this article is based on a press release statement.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.