Total acquisition to expand solar and battery storage portfolio in US
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Total's Texas deal expands US solar presence. Inset, CEO Patrick Pouyanné. Images: Total
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Total, owner of French battery maker Saft, said today it had acquired a pipeline of solar and battery storage projects set for development across the US state of Texas.
The acquisition includes 2.2GW of solar projects and 600MW of battery storage facilities – all bought from renewables company SunChase Power and private energy investment firm MAP RE/ES.
Total said the development pipeline comprises four large-scale solar projects, each with co-located battery energy storage systems, in industrial areas close to Houston that have high demand for electricity.
Construction of the first two projects is expected to start later this year. All projects will come online between 2023 and 2024.
Power purchase agreement
Total did not disclose the acquisition costs, but said remuneration to Sunchase and MAP RE/ES would be staged as the projects advance.
Meanwhile, Total has committed to a 1GW corporate power purchase agreement, sourced from the solar-storage acquisition, to cover "all the electricity consumption” of its operated industrial sites in the US, including its Port Arthur refining and petrochemicals platform and La Porte and Carville petrochemical sites.
Chairman and CEO Patrick Pouyanné said: "With this latest acquisition, Total is now developing close to 4GW of renewable power capacity in the US, contributing to our objective to reach close to 35GW of renewable generation capacity by 2025.”
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Saft launches new batteries brand for India as production ramps up in Bangalore
The acquisition includes 2.2GW of solar projects and 600MW of battery storage facilities – all bought from renewables company SunChase Power and private energy investment firm MAP RE/ES.
Total said the development pipeline comprises four large-scale solar projects, each with co-located battery energy storage systems, in industrial areas close to Houston that have high demand for electricity.
Construction of the first two projects is expected to start later this year. All projects will come online between 2023 and 2024.
Power purchase agreement
Total did not disclose the acquisition costs, but said remuneration to Sunchase and MAP RE/ES would be staged as the projects advance.
Meanwhile, Total has committed to a 1GW corporate power purchase agreement, sourced from the solar-storage acquisition, to cover "all the electricity consumption” of its operated industrial sites in the US, including its Port Arthur refining and petrochemicals platform and La Porte and Carville petrochemical sites.
Chairman and CEO Patrick Pouyanné said: "With this latest acquisition, Total is now developing close to 4GW of renewable power capacity in the US, contributing to our objective to reach close to 35GW of renewable generation capacity by 2025.”
Related articles in our archive:
Saft launches new batteries brand for India as production ramps up in Bangalore