TTE is set to supply renewable electricity to STMicroelectronics in France. This demonstrates TTE's ability to provide long-term, innovative, clean-firm power solutions.

TotalEnergies SE (NYSE: TTE) enters 15-year renewable energy deal with STMicroelectronics N.V. (NYSE: STM) for 1.5 TWh in France.

Shares of STMicroelectronics NV (STM) were in focus in pre-market trade on Wednesday after the semiconductor manufacturer entered into a 15-year renewable energy deal with France-based TotalEnergies (TTE).

This is first PPA in France for STM, aiming at 100% renewable sourcing by 2027; power comes from two wind and solar farms of 75 MW operated by TotalEnergies

French oil major TotalEnergies has signed a 15-year deal with STMicroelectronics to supply 1.5 terawatt hours (TWh) of renewable electricity to power the semiconductor company's operations in France,

TotalEnergies has signed a 15-year physical power purchase agreement (PPA) to deliver 1.5 terawatt hours (TWh) of renewable electricity to STMicroelectronics' facilities in France.

Sophie Chevalier, Senior Vice President of Flexible Power & Integration at TotalEnergies, emphasized the company's commitment to supporting the tech industry’s decarbonization efforts. "This agreement highlights our ability to deliver long-term and innovative clean power solutions tailored to our customers' needs,

European semiconductor firm STMicroelectronics has signed a 15-year Power Purchase Agreement (PPA) with Total Energies for 1.5TWh of power over the contracted agreement. The PPA will power STMicroelectronics sites in France and will be supplied from two recently constructed wind and solar farms with a combined capacity of 75MW.