TotalEnergies (NYSE: TTE), the French oil major, has signed a 15-year deal with STMicroelectronics (NYSE: STM) to supply 1.5 terawatt hours (TWh) of renewable electricity to power the semiconductor company’s operations in France, the companies said on Tuesday.
The electricity, which began flowing this month, comes from two wind and solar farms that Total brought online in France recently.
STMicroelectronics said the deal was part of efforts to run its business wholly on renewable energy by 2027 and followed similar contracts in Italy and Malaysia.
For TotalEnergies, the contract helps to grow its integrated power business as it seeks to produce 100 TWh of net renewable electricity by 2030.
Total has signed similar supply deals in France with Orange and Saint Gobain.
