EBITDA from TotalEnergies’ renewables and electricity business reached $462m in the second quarter of 2022, up 49% year-on-year.
Gross installed renewable generation capacity grew to 11.6GW at the end of the second quarter of 2022, up 900MW over the quarter, including 400MW related to the start-up of Phase 1 of the Al Kharsaah solar PV project in Qatar.
Gross power generation capacity in development increased by 3.8GW quarter-on-quarter, mainly due to the acquisition of Core Solar’s portfolio of projects in the US.
TotalEnergies CEO Patrick Pouyanné said: “In line with the priority set by the Board of Directors to accelerate the Company’s transformation, TotalEnergies announced three major investments: the giant NFE LNG project in Qatar, Clearway, the fifth largest US player in renewable energy, and a massive green hydrogen production project in India in partnership with Adani.”
Clearway Energy Group has 7.7GW of solar and wind assets in operation and a portfolio of 25GW in development.
Other renewables highlights include obtaining an offshore concession to develop a 1GW offshore wind farm off the US East Coast, off the coast of North Carolina and the acquisition of Core Solar which has a pipeline of 4GW projects in the United States.
In the second quarter of 2022 integrated Gas, Renewables & Power segment of TotalEnergies posted adjusted net operating income of $2.6bn and cash flow of $2.4bn, confirming the levels reached in previous quarters.