United Kingdom: Total Acquires London's Largest Electric Vehicle Charge Points Network
September 29 2020 - 2:45AM
Dow Jones News
Regulatory News:
Total (Paris:FP) (LSE:TTA) (NYSE:TOT) has signed the acquisition
of 'Blue Point London' from the Bolloré Group. With this
transaction, Total is taking over the management and operation of
Source London, the largest electric vehicle charging network
citywide, which includes more than 1,600 on-street charge
points.
Launched in 2010, the current Source London network has been
developed in cooperation with the London Boroughs and currently
represents more than half of the charge points in operation in the
capital city. Source London growth perspectives are supported by
the City of London's ambition to be a zero carbon city by 2050,
notably with the aim of increasing tenfold the number of charge
points within five years.
Total is also committed to powering this charging network with
electricity 100% guaranteed from renewable sources, to be supplied
by its subsidiary Total Gas & Power Limited.
Already active in the installation and operation of charge
points networks in the Metropolitan Region Amsterdam (Netherlands)
and the Brussels-Capital Region (Belgium), this acquisition in the
United Kingdom reinforces Total's position as a key player in
electric mobility in Europe. The Group is thereby pursuing its
development in major European cities, in line with its ambition of
operating more than 150,000 electric vehicle charge points by
2025.
"By combining today these existing infrastructures with Total's
know-how in terms of installation, operation and management of
public electric vehicle charging networks, we are starting a new
phase, supporting the expansion of electric mobility in London."
said Alexis Vovk, President, Marketing & Services at Total. "In
collaboration with our partners and the local authorities, we will
be able to meet both the strong growth in demand for on-street
charge points and the needs for new mobility solutions of London
users."
This transfer of activities will have no impact for the current
users of the Source London service. This transaction should be
closed by the end of the year.
About Total in the United Kingdom
Total is present across the energy value chain in the UK. It has
been present in the country for over 50 years and employs over
2,000 people.
Upstream, Total is one of the country's leading oil and gas
operators, with equity production of 189,000 boe/d in 2019. It
principally comes from operated offshore fields in three major
zones: the Alwyn/Dunbar area in the Northern North Sea, the
Elgin/Franklin and Culzean areas in the Central North Sea and the
Laggan-Tormore hub in the West of Shetland area.
Total has also entered the UK offshore wind renewables market,
with Erebus off the coast of Wales and Seagreen off the coast of
Scotland.
Downstream, Total is one of the UK's largest suppliers of gas
and electricity to businesses and the public sector. The Group is
also present in the marketing of petroleum products including
lubricants, aviation fuel, bitumen and specialty fluids.
About Total
Total is a broad energy company that produces and markets fuels,
natural gas and low-carbon electricity. Our 100,000 employees are
committed to better energy that is more affordable, more reliable,
cleaner and accessible to as many people as possible. Active in
more than 130 countries, our ambition is to become the responsible
energy major.
Cautionary Note
This press release, from which no legal consequences may be
drawn, is for information purposes only. The entities in which
TOTAL SE directly or indirectly owns investments are separate legal
entities. TOTAL SE has no liability for their acts or omissions. In
this document, the terms "Total", "Total Group" and Group are
sometimes used for convenience. Likewise, the words "we", "us" and
"our" may also be used to refer to subsidiaries in general or to
those who work for them.
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 TOTAL 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.
View source version on businesswire.com:
https://www.businesswire.com/news/home/20200928005814/en/
CONTACT: Total Contacts
Media Relations: +33 1 47 44 46 99 l presse@total.com l
@TotalPress
Investor Relations: +44 (0) 207 719 7962 l ir@total.com
SOURCE: Total
Copyright Business Wire 2020
(END) Dow Jones Newswires
September 29, 2020 02:30 ET (06:30 GMT)
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