Deals Counterparts

TotalEnergies Signs Renewable Electricity Supply Agreement with Saint-Gobain

Ppa Renewable signed France Oct 8, 2024
875 GWh
Capacity

TotalEnergies has signed a Power Purchase Agreement (PPA) with Saint-Gobain to supply renewable electricity to Saint-Gobain's French facilities. The agreement will take effect from January 2026 for a total volume of 875 GWh over a period of five years. TotalEnergies will provide Saint-Gobain with a baseload supply of electricity and guarantees of origin for that amount of power, produced by TotalEnergies' wind and solar plants in France.

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Deal Analysis

TotalEnergies and Saint-Gobain have signed a Power Purchase Agreement (PPA) for the supply of 875 GWh of renewable electricity over five years, commencing in January 2026. TotalEnergies will provide Saint-Gobain's French facilities with a baseload supply of electricity sourced from its wind and solar plants located in France, along with guarantees of origin. This agreement underscores the growing trend of large corporations securing long-term renewable energy supplies to meet sustainability targets and reduce their carbon footprint. The deal is notable for its scale, involving a substantial volume of renewable energy and two major players in their respective industries. TotalEnergies, a global multi-energy company, is expanding its renewable energy portfolio, while Saint-Gobain, a multinational corporation focused on construction materials, is demonstrating its commitment to sustainable operations. This PPA provides TotalEnergies with a stable revenue stream for its renewable energy assets and allows Saint-Gobain to secure a reliable supply of green electricity, contributing to its environmental goals.
  • Large-scale PPA: 875 GWh over 5 years.
  • Involves major players: TotalEnergies as the renewable energy provider and Saint-Gobain as the offtaker.
  • Supports Saint-Gobain's sustainability goals by providing renewable electricity for its French facilities.
  • Provides TotalEnergies with a long-term revenue stream for its wind and solar assets in France.

Timeline

Announced
Oct 8, 2024
Signed
Oct 8, 2024
Closed

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