TotalEnergies (TTE) Stock: French Energy Giant Locks In 21-Year Google Power Deal

TLDR

• TotalEnergies signed a 21-year power supply agreement with Google to deliver renewable electricity to data centers in Malaysia
• The contract will supply around 1 terawatt hour of electricity starting in early 2026
• Power will come from the planned Citra Energies solar plant
• The company repurchased shares between December 8-12, 2025, as part of its capital return strategy
• This marks the second deal between TotalEnergies and Google following a November agreement in the U.S.

TotalEnergies has secured a major long-term contract with Google to power the tech giant’s data centers in Malaysia. The French energy company will supply renewable electricity for the next 21 years starting in early 2026.

TotalEnergies SE, TTE

The deal calls for TotalEnergies to deliver around 1 terawatt hour of renewable energy to support Google’s operations. That’s enough power to run a large city for months.

The electricity will come from the Citra Energies solar plant, which is currently in the planning stages. TotalEnergies will develop and operate the solar facility specifically to meet Google’s energy needs.

This contract represents the second partnership between the two companies in recent months. Google and TotalEnergies announced a separate power agreement in the United States back in November.

The timing reflects Google’s growing power requirements as it expands its artificial intelligence operations. Data centers that run AI systems consume massive amounts of electricity, pushing tech companies to secure reliable energy sources.

Share Buyback Program Continues

While announcing the Google deal, TotalEnergies also disclosed recent share repurchase activity. The company bought back a tranche of its own shares during the week of December 8-12, 2025.

The buyback falls under an existing authorization approved by shareholders. TotalEnergies provided details on the volume and average price of shares it repurchased during that period.

Share buybacks are part of the company’s ongoing capital return strategy. By purchasing its own stock, TotalEnergies reduces the number of shares on the market and returns cash to investors.

The dual announcements show TotalEnergies pursuing both growth opportunities and shareholder returns. The Google contract represents new revenue stretching more than two decades into the future.

Meanwhile, the buyback program demonstrates the company’s willingness to return capital when not deploying it for expansion. This balanced approach aims to satisfy investors looking for both growth and income.

TotalEnergies has positioned itself as a major player in renewable energy while maintaining its traditional oil and gas operations. The company has been actively pursuing contracts with large corporate customers seeking clean power.

Tech companies like Google have become prime customers for renewable energy providers. These firms consume enormous amounts of power and face pressure to meet sustainability goals.

The Malaysia project adds to TotalEnergies’ growing portfolio of renewable energy assets across Asia. The region has become a key focus area as the company expands its clean energy footprint.

The Citra Energies solar plant will need to be fully operational by early 2026 to meet the contract terms. TotalEnergies will spend the next year developing the facility to ensure it can deliver the promised capacity.

The company completed its share repurchase program between December 8 and December 12, buying back shares at varying prices throughout the week. TotalEnergies disclosed the specific volume and average price paid for the shares it acquired during that five-day period.

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