TotalEnergies SE (NYSE:TTE) has reached financial close and begun construction on a 440 MWp solar power plant in Ilagan City, Isabela province, Philippines.
TotalEnergies owns 65%, and Nextnorth holds 35%.
The company projects that the plant will generate 13.5 TWh over 20 years. More than half of its output is contracted under long-term agreements with AdventEnergy and PrimeRES for commercial and industrial decarbonization. The rest will be sold to the grid via the Philippines' Green Energy Auction Program (Round 4).
With an investment of $300 million, the project is the largest internationally funded solar initiative in the country, backed by Sumitomo Mitsui Banking Corporation, ING Bank, and Standard Chartered.
Olivier Jouny, SVP Renewables at TotalEnergies, says the partnership with Nextnorth will help the Philippines meet its renewable energy targets. These 440 MW will contribute to the 9 GW renewable portfolio the company is developing with Masdar in nine Asian countries.
The broader market saw gains on Wednesday
Market breadth was softer (4 sectors advancing, 6 declining), which can leave single names more sensitive to stock-specific positioning even when the index backdrop is green.
TotalEnergies is holding near the top of its 52-week range. It sits just under the $93.49 high, which keeps the longer-term trend in focus even with a premarket pullback. The stock is trading 0.9% above its 20-day simple moving average (SMA) and 18.1% above its 100-day SMA, a setup that leans bullish for trend-followers because price is still riding above key baselines.
On Wednesday, the Paris-based energy giant posted adjusted earnings of $2.45 per share, missing the $2.23 consensus estimate.
Revenue for the quarter came in at $54.16 billion, below the $61.93 billion expectation.
The company said Middle East disruptions have led to a 15% production shutdown in Qatar, Iraq, and the UAE and pushed oil prices toward $100 per barrel. The conflict has also lowered expectations for a 2026 hydrocarbon surplus.
Analyst Consensus & Recent Actions: The stock carries a Hold Rating with an average price target of $83.00. Recent analyst moves include:
Significance: Because TTE carries significant weight in these funds, any significant inflows or outflows for these ETFs will likely force automatic buying or selling of the stock.
TTE Stock Price Activity: TotalEnergies shares were down 0.93% at $91.38 during premarket trading on Thursday, according to Benzinga Pro data.
Photo via Shutterstock 
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