Integrated Power: TotalEnergies Sells 50% of its Shares in a Gas Power Plant in the United Kingdom
December 16 2024 - 11:02AM
Business Wire
Regulatory News:
TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) announces the
sale to EPUKI, the UK subsidiary of EPH, of 50% of its shares in
West Burton Energy, a company wholly acquired in June 2024 with the
announced intention to resale one half.
West Burton Energy owns a 1.3 GW gas fired power plant and a 49
MW battery storage system in the United Kingdom. The plant will be
operated by the joint venture between TotalEnergies and EPUKI.
“We are delighted to partner with EPH, a recognized and
experienced power producer in the United Kingdom. Thanks to this
operation, we are adjusting our net flexible generation capacity at
700 MW, which is consistent with the capacity required to support
our Renewables growth in the United Kingdom. This integration
between flexible and renewable assets will contribute to the
objective of our Integrated Power business to reach 12% return by
2030”, said Sophie Chevalier, Senior Vice
President Flexible Power & Integration at
TotalEnergies.
***
TotalEnergies in the UK TotalEnergies has been present in
the UK for more than 60 years, employing more than 1,800 people
across the energy value chain. As one of the country’s leading oil
and gas operators, the Company operates around 30% of the UK
Continental Shelf’s gas production, with average daily production
of 142,000 barrels of oil equivalent per day (boe/d) in 2023 in
company share. TotalEnergies is deploying its Integrated Power
strategy in the UK, which combines renewable power production and
flexible power generation capacities. Its renewable portfolio in
the county includes 1.1 GW of gross installed capacity (Seagreen
offshore wind farm) and 4.5 GW under development. It was
complemented in 2024 by the acquisition of gas-fired power plants
(CCGT) with total output of 1.3 GW. The Company is one of the UK’s
largest suppliers of gas and electricity to businesses and the
public sector. TotalEnergies also offers EV charging solutions and
markets petroleum products including lubricants, aviation fuel,
bitumen and specialty fluids.
TotalEnergies and electricity As part of its ambition to
get to net zero by 2050, TotalEnergies is building a world class
cost-competitive portfolio combining renewables (solar, onshore and
offshore wind) and flexible assets (CCGT, storage) to deliver clean
firm power to its customers. By the end of 2024, TotalEnergies’
gross renewable electricity generation installed capacity reached
over 24 GW. TotalEnergies will continue to expand this business to
reach 35 GW in 2025 and more than 100 TWh of net electricity
production by 2030.
About TotalEnergies TotalEnergies is a global integrated
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 provide as many
people as possible with energy that is more reliable, more
affordable and more sustainable. Active in about 120 countries,
TotalEnergies places sustainability at the heart of its strategy,
its projects and its operations.
@TotalEnergies TotalEnergies TotalEnergies
TotalEnergies
Cautionary Note The terms “TotalEnergies”, “TotalEnergies
company” or “Company” in this document are used to designate
TotalEnergies SE and the consolidated entities that are directly or
indirectly controlled by TotalEnergies SE. Likewise, the words
“we”, “us” and “our” may also be used to refer to these entities or
to their employees. The entities in which TotalEnergies SE directly
or indirectly owns a shareholding are separate legal entities. 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. Information concerning risk factors, that may affect
TotalEnergies’ financial results or activities is provided in the
most recent Universal Registration Document, the French-language
version of which is filed by TotalEnergies SE with the French
securities regulator Autorité des Marchés Financiers (AMF), and in
the Form 20-F filed with the United States Securities and Exchange
Commission (SEC).
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