TotalEnergies SE (NYSE:TTE) on Wednesday penned a 15-year Power Purchase Agreement (PPA) with Alphabet Inc.’s (NASDAQ:GOOG) (NASDAQ:GOOGL) Google.
Details
As per the deal, Google will receive 1.5 TWh of certified renewable electricity from TotalEnergies’ nearly completed Montpelier solar farm in Ohio.
Connected to the PJM grid, which is the largest in the U.S., the facility will power Google’s data center operations in the state.
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The agreement aligns with TotalEnergies’ strategy to provide customized energy solutions for data centers, which represented nearly 3% of global energy consumption in 2024.
Also, it aligns with Google’s goal of adding new carbon-free energy to the grids where it operates.
Management Commentary
Stéphane Michel, President Gas, Renewables & Power at TotalEnergies, added, “This agreement illustrates TotalEnergies’s ability to meet the growing energy demands of major tech companies by leveraging its integrated portfolio of renewable and flexible assets. It also contributes to achieving our target of 12% profitability in the power sector.”
Bigger Picture
Notably, TotalEnergies is developing a 10 GW renewable portfolio across the U.S., including solar, wind, and battery storage projects.
Of this, 1 GW is in the PJM market in the northeast U.S. and 4 GW is in Texas.
The Google PPA adds to TotalEnergies’ growing list of corporate partnerships, which already includes Data4, STMicroelectronics N.V. (NYSE:STM), Saint-Gobain, Air Liquide SA (OTC:AIQUY), Amazon.com, Inc. (NASDAQ:AMZN), LyondellBasell Industries NV (NYSE:LYB), Merck & Company, Inc. (NYSE:MRK), Microsoft Corporation (NASDAQ:MSFT), Orange, and Sasol.
Guyana Offshore Contract
On Tuesday, TotalEnergies (40%, operator), along with QatarEnergy (35%) and Petronas (25%), signed a production sharing contract for Guyana’s offshore Block S4.
Recent Earnings Release
Last month, the French energy giant posted third-quarter 2025 adjusted earnings of $1.77 per share, missing the $1.81 consensus estimate. Revenue came in at $48.69 billion, also below expectations of $54.93 billion.
For the fourth quarter of the year, the company expects hydrocarbon production to grow around 4% year-over-year and remain within the 2.525-2.575 Mboe/d range.
Price Action: TTE shares were trading higher by 0.73% to $64.43 premarket at last check Wednesday.
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