TotalEnergies, the energy giant, announced on Thursday that it has achieved a total capacity of 2 gigawatts (GW) in renewable electricity production this week, enough to power 1.8 million people.
Inauguration of a 63 MW Wind Farm on Friday
This milestone will be reached with the inauguration of the Vents de la Moivre wind farm in Marne on Friday, the largest wind farm in France for TotalEnergies (63 megawatts). The group made this announcement on the eve of its annual general meeting, which climate organizations have promised to disrupt again.
Active in wind, solar, storage capacities, and small hydroelectric plants, the former Total, now renamed TotalEnergies, describes itself as a “leader in energy transition in France.” The company emphasizes its diversification from its historical focus on fossil fuels (oil and gas).
“We weren’t involved in electricity at all ten years ago,” stressed Isabelle Patrier, TotalEnergies’ Director for France, to a few journalists. She added, “In all areas where the company operates, we aim to deploy renewable electricity production through a fully integrated chain: production, storage, distribution.”
Nearly $400 Million Invested in Renewables in France Last Year
In France, the group invested nearly $400 million in renewables in 2023. TotalEnergies targets a net production of more than 4 TWh of green electricity by 2030, compared to 2.6 TWh produced in 2023, admitting a delay compared to its early 2020s ambitions.
Initially purchasing parks, the group now develops its own projects, supported by around 600 specialized employees in France.
“We work with local communities, farmers through Ombrea, and industrial clients like Renault Trucks or L’Oréal for rooftop solar,” the company explained, adding that this electricity also powers its refineries and its 21,000 electric vehicle charging points.
A Global Goal of 35 GW by 2025
Globally, TotalEnergies reports having a gross renewable electricity production capacity of 22 GW by the end of 2023. The company aims for 35 GW by 2025 and a net electricity production of over 100 TWh by 2030.
The world’s fourth-largest oil company, which posted a net profit of $21.4 billion in 2023 (with a revenue of $237 billion), still faces criticism for continuing investments in fossil fuels, particularly LNG. In September, it announced plans to increase hydrocarbon production by 2 to 3% per year over the next five years.
In 2023, 90% of its sales came from gas and oil, and 8% from electricity. By 2030, the company expects these figures to shift to 80% and 15%, respectively.