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TotalEnergies – collaborative survey marks key step in Carolina Long Bay project
A GLOBAL TRANSITION UNDER SCRUTINY
In recent years, TotalEnergies has been positioning itself as a“ multi-energy” company. The French energy major currently has plans to generate between 100 and 120TWh of electricity per year by 2030. The firm is aiming for 70 % of that to come from renewable sources.
While the company is best known as an oil and gas provider, its renewable energy footprint is significant. From Chile to Japan, TotalEnergies’ solar projects already power hundreds of thousands of homes. Just weeks after relinquishing its US wind leases, the company signed a binding agreement with Abu Dhabi energy firm Masdar to establish a US $ 2.2bn joint venture merging their onshore renewable activities across Asia. The venture will begin with 3GW of operational assets and a further 6GW in advanced development expected to come online by 2030. In announcing the deal, CEO Patrick Pouyanné described it as“ fully in line with the renewable energy strategy of our Integrated Power business.”
TotalEnergies has stated that the share of petroleum products in its sales has already fallen from 66 % in 2015 to 43 % in 2024, and is expected to represent just 30 % by 2030.
The question for the years to come, however, is whether multi-energy strategies – and net zero more broadly – can withstand shifts in politics.