Energy transition: Total aims for a low-carbon electricity generation capacity of 25 GW

© Guillaume Perrin / Total

The oil giant is continuing its transformation by focusing on ecological transition and turning to other forms of energy.

While Greenpeace activists blocked Tuesday the entrance to the Mède refinery, near Marseille, to protest against the production of oil palm fuel by Total, the French giant has communicated in recent days. around the ecological transition to which he is engaged. The CEO of the group, Patrick Pouyanné, gave an interview to the JDD a few days ago in which he details the ambition of his company: to become "  the major of the responsible energy  ".

Multiply tenfold low-carbon electricity generation over five years

For the boss of Total, the shift in ecological transition must first go through the symbolism of renewable energy. We then think instantly of the electric. Currently, the oil group supplies electricity to 4 million customers in France and Belgium. Gradually, the company is progressing in this market, for which it could double its number of subscriptions by 2025.

On this same deadline, Total would like to reach a global capacity of electricity production called "low carbon" of 25 gigawatts. The company caps at 2.7 GW today.

Increasing investments for the energy transition

Who says transition and renewable energy, says investments. And at this level, the French group does not skimp on the means. Since 2015, he has continued major acquisitions of companies specializing in new energies. The best-known example remains the acquisition of Direct Energie, the French private electricity supplier and producer and gas, which became Total Direct Energie for around 1.4 billion euros in 2018.

Henceforth, the so-called "new" energies account for 10% of the group's investments and represent 10% of the group's workforce, ie 10,000 employees. "  We do not change an energy system with a magic wand. We are talking about extremely heavy investments, in trillions of dollars, that will take time,  "

On October 24, the group announced that it would dedicate 100 percent of its venture capital fund to carbon neutrality, which is expected to reach $ 400 million over the next five years. This money will support start-ups that work for energy reduction companies, as part of their activities.