Regulatory News:
TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) and SSE have
signed a binding agreement to create a joint venture to establish a
new major player in EV charging infrastructure in the UK and
Ireland, under the brand “Source”. The new business will deploy in
both countries up to 3000 high power charge points, meeting demand
from EV and fleet owners to provide fast and reliable charging.
Establishing a needs-based fast charging network across the
UK & Ireland
Within the next 5 years, Source will deploy up to 3000 high
power charge points (of 150 kW and more) grouped in 300 “EV hubs”,
targeting 20% market share. Charging hubs will be in prime
locations in and around urban areas and powered by renewable energy
provided by SSE and TotalEnergies. Several hubs are already under
construction with plans for dozens more, currently in development
studies.
Leading the decarbonisation of transport in the UK &
Ireland
In the UK, Source will provide the reliable ultra-fast charging
infrastructure needed across the country to meet the demand from EV
drivers and fleet operators. This demand was recently triggered by
the enforcement into law of the UK Government’s zero vehicle
emissions mandate for all new cars and vans, raising power supply
infrastructure for EV and fleet owners as one of the biggest
challenges facing the decarbonisation of transport.
Similarly in Ireland, Source’s plans will help accelerate action
to meet the government target of placing almost 1 million electric
vehicles on roads by 2030, while building consumer confidence in EV
charging.
“TotalEnergies is proud to contribute to the development of
electric mobility to decarbonize transportation in the UK and
Ireland. This is a great opportunity to extend our network in
Europe and stake out a key position as a reference high-power
charging player. We want to offer our customers - passenger cars
and fleet alike - a nationwide, ultra-fast and reliable charging
service that allows them to travel efficiently with complete peace
of mind. This development also contributes to our integrated power
strategy in the UK, combining renewable and flexible power
generation capacity, trading and marketing of low-carbon
electricity available 24 hours a day,” says Mathieu Soulas,
Senior Vice President New Mobilities at TotalEnergies.
“SSE is already playing a leading role in decarbonising the UK
and Ireland’s power system including building the world’s largest
offshore wind farm and transforming electricity networks. Now this
agreement will help accelerate progress towards a decarbonised
transport system too, ensuring the vehicles that keep the economy
moving can do so in a more sustainable and efficient way,” says
Neil Kirkby, Managing Director of Enterprise at SSE.
This agreement is subject to the applicable regulatory approvals
being obtained from the relevant authorities.
***
TotalEnergies, A Major Player in Electric Mobility in
Europe
With over 64,000 charge points in operation around the world
today, and proven experience in the retail sector, TotalEnergies is
already a recognized player in electric mobility. In the UK, the
Company operates the Source London network comprising 2,600 charge
points in the capital. This joint venture is aligned with
TotalEnergies’ ambition to deploy and operate more than 1,000
high-power charging sites for electric vehicles in Europe by
2028.
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. TotalEnergies’ portfolio in offshore wind
in the country amounts to over 5 GW of gross renewable capacity,
including Seagreen (1.1 GW, under operation), and large projects
under development such as West of Orkney (2 GW) and Outer Dowsing
(1.5 GW).The Company is one of the UK’s largest suppliers of gas
and electricity to businesses and the public sector, with over
300,000 customers. TotalEnergies, also offers EV charging
solutions, including 2,500 charge points in London and Birmingham.
The Company is also active in the distribution of petroleum
products: lubricants; aviation fuel; bitumen and specialty fluids.
The Company is also present in the CCS business through its 10%
interest in the Northern Endurance Partnership.
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.
SSE plc, the UK and Ireland’s clean energy champion
SSE’s purpose is to provide the energy needed today while
building a better world of energy for tomorrow. We do this by
developing, building, operating and investing in world-class
electricity infrastructure that is vital to the clean energy
transition. This includes onshore and offshore wind farms, hydro,
electricity transmission and distribution networks, flexible
generation, carbon capture and hydrogen storage, solar and
batteries, as well as providing energy products and services for
businesses and other customers.
A FTSE-100 company headquartered in the UK, SSE has positioned
itself at the heart of the clean energy transition with one of the
largest investment programmes in the FTSE-100. Under Net Zero
Acceleration Programme Plus, we are investing £20.5bn over the next
five years to 2027 and could invest more than £40bn over the decade
to 2032. SSE has a growing presence in selected international
markets in Europe, Asia and North America. We employ 14,000+
talented and skilled people and are a proud ‘real Living Wage’ and
‘Living Hours’ employer and accreditee of the ‘Fair Tax Mark’. SSE
was also the first company in the world to develop a ‘Just
Transition Strategy’ aimed at ensuring the benefits of the clean
energy transition are shared by workers and communities.
SSE has significant experience in the development and rollout of
EV charging infrastructure across the UK and Ireland powered by
traceable, renewable energy. This includes the recent launch of
Scotland’s most powerful EV charging hub in Dundee in July and the
upcoming launch of their first hub in the Republic of Ireland, at
Lough Sheever Retail Park in Mullingar.
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 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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Contacts: Media Relations: media@sse.com Investor Relations:
ir@sse.com
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