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TotalEnergies (TTE) to Add 800 EV Charging Points in Belgium
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TotalEnergies SE (TTE - Free Report) announced that it has received a contract to install and operate 800 electric vehicle (EV) charging points in Ghent, Belgium. TTE will install this EV charging station by 2025 and supply 100% renewable electricity to these charging stations. The clean energy for the charging stations will be generated by offshore wind power in the North Sea, off the coast of Belgium.
This new contract further expanded TotalEnergies’ EV charging network in Belgium. TTE has already won public contracts to install and operate more than 3,500 EV charging stations in Brussels and Antwerp, Belgium. Courtesy of TTE’s expertise, the latest contract is expected to play a very vital role in Belgium’s gradual transition to electric mobility.
TotalEnergies’ Efforts for Building EV Charging Network
TotalEnergies already has electric charging point networks in operation or under construction in other cities of Europe. TTE has also received a contract to construct EV charging points in Singapore and China. TTE has long-term plans to install more than 150,000 electric vehicle charge points in Europe by 2025.
TTE has expertise and knowledge of developing the electric vehicle charging infrastructure across the globe. With countries across the globe recognizing the need for cutting vehicle-related pollution, the acceptance of EVs is going to increase at a quick pace. TotalEnergies is expected to benefit from EV infrastructure development and aid in charging a huge volume of EVs through clean power, further cutting emissions.
Demand for EV Charging Network to Rise Globally
Per International Energy Agency, the usage of EVs is going to increase around 36% annually from 2019 levels and touch 245 million vehicles across the globe in 2030. Successful transition from conventional fuel vehicles to EVs will need a well-structured EV charging network, which will also assist in cutting down vehicle-related emissions. The majority of EV charging developers and operators across the globe are trying to procure power for EV charging stations from clean sources, further cutting emissions.
Given the huge growth potential in the EV charging business, energy giants like BP Plc. (BP - Free Report) have started to invest in EV charging network development. BP has been developing the EV charging network in the United Kingdom and China.
To expand EV charging operations, BP has acquired Chargemaster, which is the operator of the U.K.’s largest EV charging network, rebranded as BP Chargemaster. BP has also invested $7 million in IoTecha, in sync with its objective to provide more than 70,000 public EV charging points worldwide by 2030. IoTecha’s easy-to-use technology connects EV chargers with the electricity grid using the Internet of Things, thereby optimizing the charging process by automating payments, and delivering cost and potential energy savings to customers.
Price Performance
In the past 12 months, TotalEnergies’ shares have outperformed the industry.
Chesapeake Energy delivered an average earnings surprise of 13.3% in the last four quarters. The Zacks Consensus Estimate for 2021 earnings has moved up 19% in the past 60 days to $8 per share. The current dividend yield of Chesapeake Energy is 2.9%, better than Zacks S&P 500 composite’s 1.37%.
The long-term (three to five years) earnings growth of Ameresco is currently pegged at 19.3%. Ameresco delivered an average earnings surprise of 64.5% in the last four quarters. The Zacks Consensus Estimate for 2021 earnings has moved up 11.7% in the past 60 days to $1.43 per share.
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TotalEnergies (TTE) to Add 800 EV Charging Points in Belgium
TotalEnergies SE (TTE - Free Report) announced that it has received a contract to install and operate 800 electric vehicle (EV) charging points in Ghent, Belgium. TTE will install this EV charging station by 2025 and supply 100% renewable electricity to these charging stations. The clean energy for the charging stations will be generated by offshore wind power in the North Sea, off the coast of Belgium.
This new contract further expanded TotalEnergies’ EV charging network in Belgium. TTE has already won public contracts to install and operate more than 3,500 EV charging stations in Brussels and Antwerp, Belgium. Courtesy of TTE’s expertise, the latest contract is expected to play a very vital role in Belgium’s gradual transition to electric mobility.
TotalEnergies’ Efforts for Building EV Charging Network
TotalEnergies already has electric charging point networks in operation or under construction in other cities of Europe. TTE has also received a contract to construct EV charging points in Singapore and China. TTE has long-term plans to install more than 150,000 electric vehicle charge points in Europe by 2025.
TTE has expertise and knowledge of developing the electric vehicle charging infrastructure across the globe. With countries across the globe recognizing the need for cutting vehicle-related pollution, the acceptance of EVs is going to increase at a quick pace. TotalEnergies is expected to benefit from EV infrastructure development and aid in charging a huge volume of EVs through clean power, further cutting emissions.
Demand for EV Charging Network to Rise Globally
Per International Energy Agency, the usage of EVs is going to increase around 36% annually from 2019 levels and touch 245 million vehicles across the globe in 2030. Successful transition from conventional fuel vehicles to EVs will need a well-structured EV charging network, which will also assist in cutting down vehicle-related emissions. The majority of EV charging developers and operators across the globe are trying to procure power for EV charging stations from clean sources, further cutting emissions.
Given the huge growth potential in the EV charging business, energy giants like BP Plc. (BP - Free Report) have started to invest in EV charging network development. BP has been developing the EV charging network in the United Kingdom and China.
To expand EV charging operations, BP has acquired Chargemaster, which is the operator of the U.K.’s largest EV charging network, rebranded as BP Chargemaster. BP has also invested $7 million in IoTecha, in sync with its objective to provide more than 70,000 public EV charging points worldwide by 2030. IoTecha’s easy-to-use technology connects EV chargers with the electricity grid using the Internet of Things, thereby optimizing the charging process by automating payments, and delivering cost and potential energy savings to customers.
Price Performance
In the past 12 months, TotalEnergies’ shares have outperformed the industry.
Zacks Rank and Key Picks
TotalEnergies currently has a Zacks Rank #3 (Hold). A couple of better-ranked stocks in the same sector are Chesapeake Energy Corporation (CHK - Free Report) and Ameresco (AMRC - Free Report) , each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Chesapeake Energy delivered an average earnings surprise of 13.3% in the last four quarters. The Zacks Consensus Estimate for 2021 earnings has moved up 19% in the past 60 days to $8 per share. The current dividend yield of Chesapeake Energy is 2.9%, better than Zacks S&P 500 composite’s 1.37%.
The long-term (three to five years) earnings growth of Ameresco is currently pegged at 19.3%. Ameresco delivered an average earnings surprise of 64.5% in the last four quarters. The Zacks Consensus Estimate for 2021 earnings has moved up 11.7% in the past 60 days to $1.43 per share.