Latest news with #StéphaneMichel
Fibre2Fashion
04-07-2025
- Business
- Fibre2Fashion
France's TotalEnergies acquires 50% stake in AES Dominicana Renewables
TotalEnergies announces the closing of its acquisition of a 50% stake in the solar, wind and Battery Energy Storage Systems (BESS) portfolio of AES Dominicana Renewables Energy. This deal follows TotalEnergies' 2024 acquisition of a 30% share in AES solar and battery assets currently under construction in Puerto Rico. The combined portfolio now exceeds 1.5 GW of renewable energy and BESS capacity across the Caribbean. These transactions advance TotalEnergies' multi-energy strategy in a region where it is a key player in the liquefied natural gas (LNG) value chain. TotalEnergies has acquired a 50 per cent stake in AES Dominicana's solar, wind, and BESS portfolio, expanding its Caribbean renewables presence to over 1.5 GW. This follows a 2024 deal for a 30 per cent share in Puerto Rico's AES assets. The move supports its multi-energy strategy and boosts renewables in the Dominican Republic and Puerto Rico. Dominican Republic: TotalEnergies acquires 50% of AES renewables portfolio AES' renewables portfolio includes over 1 GW of contracted wind, solar, and BESS projects, of which 410 MW is already operational or under construction, supplying electricity under long-term Power Purchase Agreements (PPAs). The portfolio also includes over 500 MW of solar and wind capacity in development, alongside BESS projects, which will be integrated into solar plants to mitigate intermittency and enhance grid stability. This acquisition will allow TotalEnergies to expand its renewables business in the Dominican Republic, where the Company already has a partially solarized network of 184 service stations, natural gas distribution and a 103 MW solar plant under construction. Puerto Rico: TotalEnergies already holds 30% of a portfolio of AES renewables The AES' renewables portfolio includes 485 MW of contracted solar and BESS projects, comprising 200 MW of solar and 285 MW/1,140 MWh of BESS projects currently under construction. After acquiring 30% of these assets in 2024, TotalEnergies is pursuing deployment of its multi-energy strategy on the island, where it is already active in the fuel, lubricants, and aviation sectors, and operates a network of 200 service stations between Puerto Rico and the island of St Thomas. "We are pleased to expand our multi-energy strategy through this partnership with AES, focusing on renewables and battery storage in a region where TotalEnergies is already a leading supplier of LNG, notably for power generation. Since 2018, we have been supplying LNG to AES's subsidiaries in Panama and the Dominican Republic", said Stéphane Michel, President of Gas, Renewables & Power at TotalEnergies . These new transactions will contribute to our targets of 35 GW of gross renewable capacity by 2025 and over 100 TWh of electricity production by 2030. "We are excited to join forces with TotalEnergies as we diversify the island's energy mix. The proceeds from this transaction will be reinvested in AES Dominicana, to grow our renewables footprint, said Juan Ignacio Rubiolo, AES Executive Vice President & President, Energy Infrastructure and Leader of International Markets . Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged. ALCHEMPro News Desk (RM)
Business Wire
02-07-2025
- Business
- Business Wire
Caribbean: TotalEnergies Expands its Partnership with AES from LNG to Renewable Energy
PARIS--(BUSINESS WIRE)--TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) announces the closing of its acquisition of a 50% stake in the solar, wind and Battery Energy Storage Systems (BESS) portfolio of AES Dominicana Renewables Energy. This deal follows TotalEnergies' 2024 acquisition of a 30% share in AES solar and battery assets currently under construction in Puerto Rico. The combined portfolio now exceeds 1.5 GW of renewable energy and BESS capacity across the Caribbean. These transactions advance TotalEnergies' multi-energy strategy in a region where it is a key player in the liquefied natural gas (LNG) value chain. Dominican Republic: TotalEnergies acquires 50% of AES renewables portfolio AES' renewables portfolio includes over 1 GW of contracted wind, solar, and BESS projects, of which 410 MW is already operational or under construction, supplying electricity under long-term Power Purchase Agreements (PPAs). The portfolio also includes over 500 MW of solar and wind capacity in development, alongside BESS projects, which will be integrated into solar plants to mitigate intermittency and enhance grid stability. This acquisition will allow TotalEnergies to expand its renewables business in the Dominican Republic, where the Company already has a partially solarized network of 184 service stations, natural gas distribution and a 103 MW solar plant under construction. Puerto Rico: TotalEnergies already holds 30% of a portfolio of AES renewables The AES' renewables portfolio includes 485 MW of contracted solar and BESS projects, comprising 200 MW of solar and 285 MW/1,140 MWh of BESS projects currently under construction. After acquiring 30% of these assets in 2024, TotalEnergies is pursuing deployment of its multi-energy strategy on the island, where it is already active in the fuel, lubricants, and aviation sectors, and operates a network of 200 service stations between Puerto Rico and the island of St Thomas. 'We are pleased to expand our multi-energy strategy through this partnership with AES, focusing on renewables and battery storage in a region where TotalEnergies is already a leading supplier of LNG, notably for power generation. Since 2018, we have been supplying LNG to AES's subsidiaries in Panama and the Dominican Republic', said Stéphane Michel, President of Gas, Renewables & Power at TotalEnergies. 'These new transactions will contribute to our targets of 35 GW of gross renewable capacity by 2025 and over 100 TWh of electricity production by 2030.' 'We are excited to join forces with TotalEnergies as we diversify the island's energy mix. The proceeds from this transaction will be reinvested in AES Dominicana, to grow our renewables footprint', said Juan Ignacio Rubiolo, AES Executive Vice President & President, Energy Infrastructure and Leader of International Markets. TotalEnergies and electricity TotalEnergies is building a competitive portfolio that combines renewables (solar, onshore wind, offshore wind) and flexible assets (CCGT, storage) to deliver clean firm power to its customers. As of the end of March 2025, TotalEnergies has 28 GW of installed gross renewable electricity generation capacity and aims to reach 35 GW by the end of 2025, and more than 100 TWh of net electricity production by 2030. About TotalEnergies TotalEnergies is a global integrated energy company that produces and markets energies: oil and biofuels, natural gas, biogas and low-carbon hydrogen, renewables and electricity. Our more than 100,000 employees are committed to providing as many people as possible with energy that is more reliable, more affordable and more sustainable. Active in about 120 countries, TotalEnergies places sustainability at the heart of its strategy, its projects and its operations. @TotalEnergies TotalEnergies TotalEnergies TotalEnergies Cautionary Note 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).
Yahoo
21-05-2025
- Business
- Yahoo
TotalEnergies Seals LNG Deal with Ksi Lisims
It was recently revealed that TotalEnergies SE (NYSE:TTE) has signed an agreement with Ksi Lisims to purchase LNG. Let's shed some light on the development. TotalEnergies SE (NYSE:TTE) announced on May 19, 2025, that it has signed a deal with Ksi Lisims LNG for the purchase of 2 million tons per year of LNG for 20 years from the latter's planned export project in Canada, subject to the final investment decision of the project. Moreover, the French energy giant will also acquire a 5% stake in Houston-based Western LNG, the developer, shareholder, and future operator of the Ksi Lisims LNG project. The agreement will grant TotalEnergies the option to increase its stake in Western LNG and/or to take a direct stake in the plant up to approximately 10% when the final investment decision is made. The Ksi Lisims LNG project, with a capacity of 12 million tons per year, is of strategic importance to Total since its Pacific coast location grants it privileged access to Asia, the largest LNG market in the world. Stéphane Michel, President of Gas, Renewables, & Power at TotalEnergies SE (NYSE:TTE), stated: "This purchase of LNG from the future Ksi Lisims LNG plant will allow us to diversify our LNG portfolio in North America and benefit from competitive LNG supply in Western Canada to better serve our Asian customers, with whom we are developing a significant portfolio of long-term supply contracts. As part of our integrated strategy, we are also pleased to partner with Western LNG to support the development of this very low CO2 emission liquefaction plant project" TotalEnergies SE (NYSE:TTE) is the third-largest LNG player in the world with a global portfolio of 40 Mt/y in 2024, thanks to its interests in liquefaction plants in all geographies. Despite a net adjusted profit and revenue decline in the first quarter of 2025, the company's LNG business performed well, with adjusted net operating income rising by 6% YoY to $1.3 billion. Already the top exporter of American LNG, the French energy major is planning to expand its portfolio even further, most recently via a 20-year contract signed last month with NextDecade. While we acknowledge the potential of TTE to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than TTE and that has 100x upside potential, check out our report about this cheapest AI stock. READ NEXT: 10 Cheap Energy Stocks to Buy Now and 10 Most Undervalued Energy Stocks According to Hedge Funds. Disclosure: None. Sign in to access your portfolio
Trade Arabia
20-05-2025
- Business
- Trade Arabia
TotalEnergies inks 20-year, 2 Mtpa LNG deal from Ksi Lisims
TotalEnergies has signed a Sales and Purchase Agreement (SPA) with Ksi Lisims LNG for the purchase of 2 Mtpa of LNG for 20 years from the future liquefaction plant, subject to the final investment decision of the project. In parallel, TotalEnergies acquires a 5% stake in Western LNG, the developer, shareholder, and future operator of the Ksi Lisims LNG project. This acquisition grants TotalEnergies the option to increase its stake in Western LNG and/or take a direct stake in the plant up to approximately 10% when the final investment decision is made. The Ksi Lisims LNG project, a liquefied natural gas (LNG) plant with a capacity of 12 million tons per year (Mtpa), is located on the Pacific coast of Canada (British Columbia), giving it privileged access to Asia, the largest LNG market. Fully electrified and powered by hydroelectricity, Ksi Lisims LNG will be one of the lowest CO2-emitting LNG projects in the world. "This purchase of LNG from the future Ksi Lisims LNG plant will allow us to diversify our LNG portfolio in North America and benefit from competitive LNG supply in Western Canada to better serve our Asian customers, with whom we are developing a significant portfolio of long-term supply contracts", said Stéphane Michel, President of Gas, Renewables & Power at TotalEnergies. "As part of our integrated strategy, we are also pleased to partner with Western LNG to support the development of this very low CO2 emission liquefaction plant project'. -TradeArabia News Service
Yahoo
20-05-2025
- Business
- Yahoo
TotalEnergies Seals LNG Deal with Ksi Lisims
It was recently revealed that TotalEnergies SE (NYSE:TTE) has signed an agreement with Ksi Lisims to purchase LNG. Let's shed some light on the development. TotalEnergies SE (NYSE:TTE) announced on May 19, 2025, that it has signed a deal with Ksi Lisims LNG for the purchase of 2 million tons per year of LNG for 20 years from the latter's planned export project in Canada, subject to the final investment decision of the project. Moreover, the French energy giant will also acquire a 5% stake in Houston-based Western LNG, the developer, shareholder, and future operator of the Ksi Lisims LNG project. The agreement will grant TotalEnergies the option to increase its stake in Western LNG and/or to take a direct stake in the plant up to approximately 10% when the final investment decision is made. The Ksi Lisims LNG project, with a capacity of 12 million tons per year, is of strategic importance to Total since its Pacific coast location grants it privileged access to Asia, the largest LNG market in the world. Stéphane Michel, President of Gas, Renewables, & Power at TotalEnergies SE (NYSE:TTE), stated: "This purchase of LNG from the future Ksi Lisims LNG plant will allow us to diversify our LNG portfolio in North America and benefit from competitive LNG supply in Western Canada to better serve our Asian customers, with whom we are developing a significant portfolio of long-term supply contracts. As part of our integrated strategy, we are also pleased to partner with Western LNG to support the development of this very low CO2 emission liquefaction plant project" TotalEnergies SE (NYSE:TTE) is the third-largest LNG player in the world with a global portfolio of 40 Mt/y in 2024, thanks to its interests in liquefaction plants in all geographies. Despite a net adjusted profit and revenue decline in the first quarter of 2025, the company's LNG business performed well, with adjusted net operating income rising by 6% YoY to $1.3 billion. Already the top exporter of American LNG, the French energy major is planning to expand its portfolio even further, most recently via a 20-year contract signed last month with NextDecade. While we acknowledge the potential of TTE to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than TTE and that has 100x upside potential, check out our report about this cheapest AI stock. READ NEXT: 10 Cheap Energy Stocks to Buy Now and 10 Most Undervalued Energy Stocks According to Hedge Funds. Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
