TotalEnergies SE (NYSE:TTE) on Thursday signed two clean firm power agreements with Airbus SE (OTC:EADSY) to supply 3.3 TWh of electricity to Airbus’ major sites in Germany and the U.K..
Starting in 2027, the baseload electricity will come from new 200 MW renewable assets. The supply will cover half of the sites’ energy requirements through the next decade.
Management Commentary
Stéphane Michel, President, Gas, Renewables & Power at TotalEnergies stated, “These new contracts illustrate TotalEnergies’ ability to deliver turnkey clean firm power solutions on multi-geographies to support our industrial customers in their energy transition. These contracts, which rely on our integrated power portfolio combining both renewable and flexible assets will contribute positively to the profitability of our electricity business.”
Florent Massou dit Labaquère, EVP of Operations for the Commercial Aircraft business of Airbus, added, “These agreements will help Airbus secure reliable low-carbon energy, supporting our goal to increase renewable electricity across our sites. Complementing our existing collaboration with TotalEnergies to scale SAF production capabilities, these PPAs are part of our holistic approach to build resilience in our operations.”
Other Agreements Signed
This week, TotalEnergies penned a joint investment platform with Tikehau Capital aimed at expanding electric vehicle charging infrastructure in urban public areas across Belgium and the Netherlands.
The partnership will assist municipalities in the EV transition while strengthening TotalEnergies’ role as a key public charging provider in the Benelux region.
In February, TotalEnergies inked a Memorandum of Understanding (MoU) with Kuwait Oil Company (KOC) to enhance collaboration, share expertise, and conduct technical studies.
The company plans to release fourth-quarter earnings on February 11.
Price Action: TTE shares are down 0.88% at $74.21 premarket at the last check on Thursday.
Photo: Shutterstock
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