09:44 AM EST, 11/15/2024 (MT Newswires) -- TotalEnergies (TTE), BP (BP), Equinor ( EQNR ) and Shell (SHEL) said Friday that they are making a $500 million joint investment commitment to support the UN Sustainable Development Goal 7 initiative.

The joint investment will support projects primarily in Sub-Saharan Africa, South and Southeast Asia, "aiming to help millions of people in underserved communities gain access to electricity and improved cooking conditions," the companies said.

The funds will go toward solar home systems, mini/metro grids, clean cooking solutions, and enabling technologies such as including e-mobility, energy storage and management solutions.

A private equity firm will manage the joint investment.

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