US: TotalEnergies Acquires 1.5 GW Versatile Energy Era Capability In Texas

As a part of its growth as an built-in energy participant, TotalEnergies stated Monday it has signed an settlement with TexGen, a U.S.-based firm to accumulate for $635 million three gas-fired energy crops with a complete capability of 1.5 GW in Texas.

The three crops, that are related to ERCOT (Electrical Reliability Council of Texas), the second largest energy market in the USA, include the next:

  • The Wolf Hole I plant with a 745 MW combined-cycle fuel turbine (CCGT) plant on the outskirts of Dallas.
  • The Colorado Bend I plant with a 530 MW CCGT and a 74 MW open-cycle fuel turbine (OCGT), south of Houston, gives extra flexibility to fulfill exceptionally excessive demand, particularly in the summertime.
  • The La Porte web site with a 150 MW OCGT, southeast of Houston.

These versatile property, positioned near Dallas and Houston, will serve the fast-growing power demand of those cities and can permit to offset the intermittency of renewable energy manufacturing. Their significance was not too long ago highlighted throughout climate occasions that impacted energy technology from renewable property in Texas or led to excessive seasonal peak demand.

The 1.5 GW extra versatile manufacturing capability acquired by TotalEnergies will complement its renewable capability in Texas – at present 2 GW gross put in, 2 GW below building and greater than 3 GW below growth – and can strengthen its buying and selling capabilities within the fuel and energy markets.

This newest acquisition reinforces TotalEnergies’ dedication to delivering power that’s extra accessible, inexpensive, and sustainable for the 26 million ERCOT clients throughout Texas.

“We’re delighted with the settlement signed with TexGen to accumulate 1.5 GW of CCGT in ERCOT. After the signing of a number of company PPA over the past couple of years and the latest start-up of the utility-scale Myrtle photo voltaic plant, this deal is a serious milestone for our Built-in Energy technique within the ERCOT market. These crops will allow us to enhance our renewable property, intermittent by nature, present our clients with agency energy, and make the most of the volatility of electrical energy costs”, stated Stephane Michel, President Fuel Renewables & Energy at TotalEnergies. “This acquisition will contribute positively to our profitability goal of 12% ROACE by 2028 for our Built-in Energy enterprise phase.”

This transaction stays topic to approval by the related authorities.