Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
An announcement from TotalEnergies SE ( (FR:TTE) ) is now available.
TotalEnergies and Philippine renewable developer Nextnorth have reached financial close and begun construction of a 440 MWp solar plant in Ilagan, Isabela, with TotalEnergies owning 65% and Nextnorth 35%. The $300 million project, backed by international lenders SMBC, ING and Standard Chartered in the country’s largest solar financing to date, is slated to start operations by end-2027.
Over 20 years the facility is expected to generate 13.5 TWh, with more than half of its electricity sold via long-term offtake agreements to AdventEnergy and PrimeRES to serve commercial and industrial customers seeking decarbonized power. The remainder will go to the national grid under the government’s Green Energy Auction Program, bolstering Philippine energy security while advancing TotalEnergies’ 9 GW Asian renewables portfolio being combined with Masdar and reinforcing its regional positioning in utility-scale solar.
More about TotalEnergies SE
TotalEnergies is a global integrated energy company active in about 120 countries, producing and marketing oil and biofuels, natural gas, biogas, low-carbon hydrogen, renewables and electricity. The group is building a large-scale portfolio of solar and wind assets alongside flexible generation and storage, holding nearly 36 GW of gross renewable capacity and targeting over 100 TWh of net electricity production by 2030.
Find detailed analytics on TTE stock on TipRanks’ Stock Analysis page.