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MarketScreener Homepage  >  Equities  >  Euronext Paris  >  Total SE    FP   FR0000120271


Real-time Estimate Quote. Real-time Estimate Tradegate - 12/02 03:22:28 pm
36.243 EUR   -0.24%
01:46aTOTAL SA : Reduced to Neutral by JP Morgan
01:23aEDP Completes Sale of EUR480 Million Portfolio to Total
12/01TELLURIAN : withdraws U.S. application to build Permian natgas pipeline
SummaryMost relevantAll NewsPress ReleasesOfficial PublicationsSector newsMarketScreener StrategiesAnalyst Recommendations

Renewables: Total Strengthens Its Position in the Spanish Solar Market and Covers All Its Power Electricity in Europe With Green Energy

09/25/2020 | 02:45am EST

Regulatory News:


Total (Paris:FP) (LSE:TTA) (NYSE:TOT) is strengthening its presence in the Spanish electricity market through an agreement with the Spanish developer Ignis to develop 3.3 gigawatts (GW) of solar projects located close to Madrid and Andalusia. The first projects in the Ignis portfolio are scheduled to start in 2022, with the ambition of bringing them all into production by 2025. Remuneration will be paid by Total to Ignis as the projects develop.


This transaction follows the two agreements signed in February 2020 with Powertis and Solarbay Renewable Energy to develop nearly 2 GW of solar projects; and the acquisition last May from Energias de Portugal of its portfolio of 2.5 million residential customers and two gas-fired combined cycle power plants (850 MW).

   -- This operation brings to more than 5 GW its portfolio of solar projects 
      under development in Spain by 2025 and positions the Group as a major 
      player in the country's energy transition, contributing to Spain's 
      ambition to generate 70% of its electricity from renewables by 2030 and 
      then 100% by the middle of the century. 
   -- This solar power portfolio will enable the Group to cover all the 
      electricity consumption of its industrial sites in Europe by 2025: to do 
      this, the Group will purchase nearly 6 TWh per year of green electricity 
      generated by its Spanish solar sites through a power purchase agreement 
      covering more than 3 GW of solar farms. This will be the largest 
      corporate PPA in the world. Thanks to its electricity trading 
      capabilities, the Group will thus be able to supply all its European 
      sites with competitive green electricity, in line with its objective of 
      carbon neutrality. Scope 2 greenhouse gas emissions will thus be reduced 
      by almost 2 million tonnes per year. 

"Total is becoming one of the main broad-energy players in the country by intervening both in the production of renewable and gas-based electricity and in the distribution of gas and electricity. Our ambition, first and foremost, is to provide a clean, affordable electricity offering to our residential customers in Spain. Spain is a priority country for Total in Europe and we fully intend to leverage the market's growth opportunities that the country offers to respond concretely to the challenges of the energy transition towards carbon neutrality.," said Patrick Pouyanné, Chairman and CEO of Total. "This decision to invest massively in renewable electricity capacity to supply all our industrial operations in Europe with green energy is concrete proof of our decision to move towards decarbonising our European operations in line with our new climate ambition. It also demonstrates the value of integrating production, trading and sales in the electricity chain."


Total and Low-Carbon Electricity


As part of its ambition to become the responsible energy major, Total is building a portfolio of low-carbon electricity operations, with the objective of seeing them account for 40% of its sales mix by 2050. Today, Total's gross low-carbon power generation capacity is close to 9 gigawatts, of which more than 5 gigawatts from renewable energy sources. In pursuit of its ambition to increase this figure fivefold by 2025, Total intends to continue developing its activities to become one of the leading players in renewable energies worldwide.


* * * * *


About Total


Total is a broad energy company that produces and markets fuels, natural gas and low-carbon 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


Cautionary Note

This press release, from which no legal consequences may be drawn, is for information purposes only. The entities in which TOTAL S E directly or indirectly owns investments are separate legal entities. TOTAL S E 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 S E 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/20200924005948/en/

    CONTACT: Total 

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

    SOURCE: Total 
Copyright Business Wire 2020 

Stocks mentioned in the article
ChangeLast1st jan.
EDP - ENERGIAS DE PORTUGAL, S.A. 2.86% 4.538 Delayed Quote.16.83%
IGNIS LTD. 2.38% 1417 End-of-day quote.55.37%
TOTAL SE 1.05% 36.71 Real-time Quote.-26.16%
WTI 2.53% 45.27 Delayed Quote.-26.33%
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Financials (USD)
Sales 2020 126 B - -
Net income 2020 -6 845 M - -
Net Debt 2020 38 839 M - -
P/E ratio 2020 -16,5x
Yield 2020 7,09%
Capitalization 116 B 117 B -
EV / Sales 2020 1,23x
EV / Sales 2021 1,11x
Nbr of Employees 107 776
Free-Float 91,1%
Duration : Period :
Total SE Technical Analysis Chart | MarketScreener
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Technical analysis trends TOTAL SE
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus BUY
Number of Analysts 23
Average target price 48,73 $
Last Close Price 43,86 $
Spread / Highest target 33,5%
Spread / Average Target 11,1%
Spread / Lowest Target -33,2%
EPS Revisions
Patrick Pouyanné Chairman & Chief Executive Officer
Jean-Pierre Gerard Claude Sbraire Chief Financial Officer
Marie-Noelle Semeria Chief Technology Officer
Patrick Artus Independent Director
Marie-Christine Coisne-Roquette Lead Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
TOTAL SE-26.16%115 117
GAZPROM-28.06%57 647