TotalEnergies SE's shares are trading higher premarket after the company inked a Preliminary Contract for Land Reservation with the Moroccan government for the 'Chbika' project. This project in Morocco's Guelmim-Oued Noun region aims to generate 1 GW of solar and wind energy to produce green hydrogen from seawater, creating 200,000 tons of green ammonia annually for Europe. The agreement involves the joint venture TE H2 between TotalEnergies and EREN Group, along with partners Copenhagen Infrastructure Partners (CIP) and A.P. Møller Capital, to conduct pre-FEED studies. The CEO of TE H2, David Corchia, highlighted the significance of the contract for supporting the country's energy transition, industrialization, and job creation through green hydrogen initiatives. Additionally, TotalEnergies disclosed a new gas condensate discovery in the Danish North Sea and acquired a 50% stake in two offshore wind projects in the North Sea from RWE. These developments reflect the company's commitment to expanding its renewable energy portfolio and contributing to the energy supply with innovative projects.