Regulatory News:
In line with its business model for the development of its
renewables business, Total (Paris:FP) (LSE:TTA) (NYSE:TOT), through
Total Quadran - its 100% renewable electricity production
subsidiary in France, farms down respectively to Banque des
Territoires and Crédit Agricole Assurances half of its equity in
two portfolios of renewable projects.
-- Crédit Agricole Assurances acquires a 50% stake in a portfolio
consisting of 9 wind farms (103 MW) and 44 solar power plants (182 MW)
for a total capacity of 285 MW (100%).
-- Banque des Territoires takes a 50% stake in a portfolio consisting of 8
solar farms located in New Caledonia with a total capacity of 53 MW
(100%).
These farm-down transactions value these portfolios (close to
cumulative 340 MW) at an enterprise value of around $600 million
for 100%. They derisk the Group portfolio, accelerate cash flow
recognition and increase the return on equity.
"These farm downs are the implementation of the business model
we have defined for the development of renewable energies aiming to
achieve over 10% return on equity. We are delighted to deepen our
partnerships with both Banque des Territoires and Crédit Agricole
Assurances," said Julien Pouget, Senior Vice President Renewables
of Total.
"This transaction is in line with our strategy of being a
long-term institutional investor and diversifying on behalf of our
clients. It is a fully integrated strategy, in line with the Crédit
Agricole Group's climate commitments, in favor of energy transition
and a low-carbon economy. We are proud of this partnership with
Total, which enables us to consolidate our contribution to the
energy transition in France," says Jean-Jacques Duchamp, Deputy
Chief Executive Officer of Crédit Agricole Assurances.
"This acquisition illustrates the Banque des Territoires'
determination to provide long-term support to players in the energy
transition in the deployment of new renewable energy projects in
mainland France and the French overseas territories," says Emmanuel
Legrand, head of the Banque des Territoires' Energy and
Environmental Transition Department.
Total, renewables and electricity
As part of its ambition to get to net zero by 2050, Total is
building a portfolio of activities in renewables and electricity
that could account for up to 40% of its sales by 2050. At the end
of 2020, Total's gross power generation capacity worldwide was
around 12 GW, including 7 GW of renewable energy. With the
objective of reaching 35 GW of production capacity from renewable
sources by 2025, Total will continue to expand its business to
become one of the world leaders in renewable energies.
About Total
Total is a broad energy company that produces and markets fuels,
natural gas and electricity. Our 100,000 employees are committed to
better energy that is more affordable, more reliable, cleaner and
accessible to as many people as possible. Active in more than 130
countries, our ambition is to become the responsible energy
major.
About Total Quadran
Total Quadran, a pioneer of renewable energies in France,
develops, builds and operates renewable electricity generation
resources (wind, photovoltaic, hydro and biogas). Total Quadran
operates over 300 renewable energy plants in France totaling nearly
900 MW, generating 1,675 GWh of renewable electricity per year.
This is the equivalent of the annual consumption of nearly 1,5
million people and annual savings of nearly 560,000 tons of CO2
emissions.
About Crédit Agricole Assurances
Crédit Agricole Assurances, France's leading insurer, brings
together Crédit Agricole's insurance subsidiaries. The group offers
a range of products and services in savings, pensions, health,
personal protection and property insurance. They are distributed by
the Crédit Agricole group's banks in France and in nine countries
around the world, by wealth management advisers and tied agents.
Crédit Agricole Assurances' companies serve individuals,
professionals, farmers and businesses. Crédit Agricole Assurances
has 4,700 employees. 37.0 billion at the end of 2019 (IFRS).
www.ca-assurances.com
About Banque des Territoires
Created in 2018, Banque des Territoires is one of the five
business lines of Caisse des Dépôts. It brings together all
internal expertises designed for the French territories. As a
single client gateway, it offers tailor-made advisory and financing
solutions in loans and investments in order to meet the needs of
local authorities, social housing organizations, local public
companies and the legal professions. It is aimed at all kind of
areas, from rural to metropolitan areas, with the aim of tackling
social inequalities and territorial divisions. Banque des
Territoires is deployed in all Caisse des Dépôts regional divisions
and territorial offices in order to be better known and closer to
its clients. Towards more attractive, inclusive, sustainable and
connected territories.
www.banquedesterritoires.fr @BanqueDesTerr
Cautionary Note
This press release, from which no legal consequences may be
drawn, is for information purposes only. The entities in which
TOTAL SE directly or indirectly owns investments are separate legal
entities. TOTAL SE has no liability for their acts or omissions. In
this document, the terms "Total", "Total Group" and Group are
sometimes used for convenience. 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 TOTAL
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.
View source version on businesswire.com:
https://www.businesswire.com/news/home/20210222006017/en/
CONTACT: Total Quadran Contact
Elodie Billerey, Chargée de communication -- Tel : 06 69 99 38
95
-- elodie.billerey@total-quadran.com
Total Contacts
Medias Relations: +33 1 47 44 46 99 l presse@total.com l
@TotalPress
Investor Relations: +44 (0)207 719 7962 l ir@total.com
Contacts presse Crédit Agricole Assurances
Françoise Bololanik + 33 (0)1 57 72 46 83 / 06 25 13 73 98
Géraldine Duprey + 33 (0)1 57 72 58 80 / 07 71 44 35 26
service.presse@ca-assurances.fr
SOURCE: TOTAL
Copyright Business Wire 2021
(END) Dow Jones Newswires
February 23, 2021 02:47 ET (07:47 GMT)
