TotalEnergies Sells Stake in Renewable Portfolio to Crédit Agricole Assurances
03 Fevereiro 2023 - 4:45AM
Business Wire
Regulatory News:
As part of its strategy of profitable growth in renewable
energies, TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) is selling
to Crédit Agricole Assurances 50% of a 234 MW portfolio of
renewable projects, including 23 solar power plants with a capacity
of 168 MW and 6 wind farms with a capacity of 67 MW. Of the 29
power plants in the portfolio, 25 are already operational (180 MW)
and the four others (54 MW) will be commissioned in the first half
of 2023.
This transaction implies an enterprise value of the portfolio of
$ 300 million (100%) equivalent to a multiple of 16 x EBITDA.
This partial sale to Crédit Agricole Assurances allows
TotalEnergies to accelerate project cash flows and improve the
return on invested capital, in line with its business model for
renewable energy development.
TotalEnergies’ teams will continue to ensure the asset
management, operation and maintenance of the 29 power plants. They
will provide enough energy for 200,000 people and will prevent the
emission of some 96,000 tons of CO2 per year for thirty years.
“This partial sale demonstrates the strength of our business
model, which ensures a return on invested capital in renewable
energies of more than 10%. We are pleased to partner with Crédit
Agricole Assurances and support its investment in the energy
transition. With its strong teams and business model, TotalEnergies
intends to continue its development in France where we aim to reach
4 GW of renewable generation capacity by 2025,” said Vincent
Stoquart, Senior Vice President, Renewables at
TotalEnergies.
"This transaction is in line with our strategy as a long-term
institutional investor in the acceleration of renewable energies,
in favor of the energy transition and a low-carbon economy. In line
with the Crédit Agricole Group's climate commitments, this
transaction will increase our investments in renewable energies and
help us reach an installed capacity of 14 GW by 2025," said
Florence Barjou, Head of Investments at Crédit Agricole
Assurances.
****
TotalEnergies and renewable electricity As part of its
ambition to get to net zero by 2050, TotalEnergies is building a
portfolio of activities in electricity and renewables. At the end
2022, TotalEnergies' gross renewable electricity generation
installed capacity is 17 GW. TotalEnergies will continue to expand
this business to reach 35 GW of gross production capacity from
renewable sources and storage by 2025, and then 100 GW by 2030 with
the objective of being among the world's top 5 producers of
electricity from wind and solar energy.
About TotalEnergies TotalEnergies is a global
multi-energy company that produces and markets energies: oil and
biofuels, natural gas and green gases, renewables and electricity.
Our more than 100,000 employees are committed to energy that is
ever more affordable, cleaner, more reliable and accessible to as
many people as possible. Active in more than 130 countries,
TotalEnergies puts sustainable development in all its dimensions at
the heart of its projects and operations to contribute to the
well-being of people.
Twitter: @TotalEnergies LinkedIn: TotalEnergies
Facebook: TotalEnergies Instagram: TotalEnergies
About Crédit Agricole Assurance Crédit Agricole
Assurances, France's leading insurer, brings together the insurance
subsidiaries of Crédit Agricole. The Group offers a range of
savings, pension, health, personal protection and property
insurance products and services. They are distributed by the Crédit
Agricole Group's banks in France and in eight countries around the
world, by wealth management advisors and general agents. Crédit
Agricole Assurances' companies cater to individuals, professionals,
farmers and businesses. Crédit Agricole Assurances has 5,300
employees. Its premium income at the end of 2021 will amount to
36.5 billion euros (IFRS standards). www.ca-assurances.com
Cautionary Note This press release, from which no legal
consequences may be drawn, is for information purposes only. The
entities in which TotalEnergies SE directly or indirectly owns
investments are separate legal entities. TotalEnergies SE has no
liability for their acts or omissions. The terms “Company” or
“TotalEnergies company” refer collectively to the company
TotalEnergies SE and the companies it controls directly or
indirectly. Such terms are used solely for the sake of convenience
for purposes of the present communication. Likewise, the words
“we”, “us” and “our” may also be used to refer to subsidiaries in
general or to those who work for them. 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.
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TotalEnergies Media Relations: +33 1 47 44 46 99 l
presse@totalenergies.com l @TotalEnergiesPR Investor Relations: +33
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Crédit Agricole Assurances Françoise Bololanik : + 33 (0)1 57
72 46 83 / 06 25 13 73 98 Nicolas Leviaux : +33 (0)1 57 72 09
50 / 06 19 60 48 53 service.presse@ca-assurances.fr
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