Energy giant, Total, has partnered with the Spanish developer Ignis to develop 3.3 GW of solar projects located close to Madrid and Andalusia to expand its presence in the Spanish electricity market. While the first solar projects in this portfolio are scheduled to start in 2022, all the projects are expected to be operational by 2025. Total will pay Ignis the due remuneration as and when the projects develop as per the terms of its corporate PPA, one of the largest in the world till date.
Through this corporate PPA, Total will procure about 6 TWh of green power per year enabling it to cater to all the electricity consumption of its industrial sites in Europe by 2025 owing to its electricity trading capabilities. This is line with the company’s carbon neutrality objective, and it is building a portfolio of low-carbon electricity operations that would account for 40% of its sales mix by 2050. Prior to this, Total had signed agreements with Powertis and Solarbay Renewable Energy for 2 GW of solar projects in February 2020. With the recent agreement with Ignis, Total would have more than 5 GW of solar projects under development in Spain by 2025.
Total recently also decided to convert its Grandpuits refinery (Seine-et-Marne) into a zero-crude platform by 2024. While crude oil refining at the platform will be discontinued in the first quarter of 2021 and storage of petroleum products will end in late 2023, the facility will now focus on four new industrial activities following an investment totaling more than €500 million. These include production of renewable diesel primarily intended for the aviation industry, production of bioplastics, plastics recycling and operation of two photovoltaic solar power plants. The 28 MWp solar project at Grandpuits site and the 24 MWp plant at the Gargenville site will contribute to Total’s ambition to provide green power to all its industrial sites in Europe.