TotalEnergies' Texas Solar Power: Strikes 275 MW Green Electricity Deal With LyondellBasell

TotalEnergies SE TTE inked a second contract with LyondellBasell Industries NV LYB for supplying a combined 275 MWac (358 MW) of green electricity.

The green electricity is sourced from TTE's utility-scale Cottonwood Bayou and Brazoria Solar farms in Texas.

Through this 15-year Corporate Power Purchase Agreement (CPPA), LYB will offtake 125 MWac (163 MW) from TTE's Brazoria Solar farm, located southwest of Houston, with a capacity of 325 MW and a commercial start-up planned for the end of 2025.

Through the 12-year CPPA signed in 2022, LyondellBasell will offtake 150 MWac (195 MW) from TotalEnergies’ Cottonwood Bayou Solar plant.

Vincent Stoquart, Senior Vice President, TTE's Renewables said, "TotalEnergies is proud to support LyondellBasell on its climate goals. The signing of these new upside sharing CPPAs in the United States is consistent with our strategy to take merchant exposure and will contribute to the objective of profitable growth for our Integrated Power business".

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Yesterday, TTE penned a cooperation agreement with Nigerian National Petroleum Company Limited to conduct methane detection and measurement campaigns on oil and gas facilities in Nigeria using its advanced drone-based technology. 

Patrick Pouyanné, Chairman and CEO said, "TotalEnergies is pleased to announce the end of routine flaring in its operations in Nigeria and the sharing of our in-house AUSEA technology with NNPCL, concretely supporting NNPCL to deliver the commitment taken at COP28 by endorsing the Oil & Gas Decarbonization Charter."

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Price Action: TTE shares are trading higher by 0.30% at $67.94 on the last check Tuesday.