TotalEnergies has reached a milestone of 2 GW of installed green electricity in France, having invested $400 million towards the domestic supply of green energy in 2023. According to a company statement, the French supermajor generated up to 90% of its total income from the sale of oil and gas in 2023, showcasing the critical role of hydrocarbons in diversifying the global energy mix and increasing renewable energy penetration.
In Africa, TotalEnergies is a key advocate for sustainable energy development, spearheading a multi-energy approach that targets energy security and distribution to local and regional markets. The company continues to invest heavily in Africa’s oil and gas resources – through large-scale projects like the Akpo West Field Development in Nigeria and planned Mozambique LNG facility – while accelerating renewable penetration in Egypt, Burkina Faso, Uganda, South Africa and Angola, among many other markets.
The African Energy Chamber (AEC), as the voice of the African energy sector, commends TotalEnergies for its renewable energy milestone in France and its efforts to address energy poverty through the integration of oil, natural and renewables in Africa. Strategies for advancing Africa’s energy security and industrialization, while promoting a just energy transition, will be unpacked at this year’s edition of the African Energy Week (AEW): Invest in African Energy conference in Cape Town.
In 2023, TotalEnergies allocated $16.8 billion across its global operations, with 35% directed towards low-carbon energies. This investment led to a rise in the company's renewable energy capacity by 6 GW, contributing to a total generation of 33 TWh of electricity, of which 19 TWh came from renewables. Looking ahead, TotalEnergies plans to invest over $4 billion annually in renewable energy, targeting 35% of total power generation from renewables by 2025. Additionally, the firm reduced its emissions by 24% in 2023 compared to 2015 levels, demonstrating its tangible commitment to deploying sustainable practices.
In Africa, TotalEnergies is leading its flagship Solarization project, with over 1,000 service stations powered by solar technology in the project's first phase and plans to power over 4,200 service stations across the continent. In South Africa, TotalEnergies is developing a combined 260 MW solar and wind project in Northern Cape Province, as well as a transformative hybrid renewables project that integrates a 216 MW solar plant with a 500 MWh battery storage system. In Mozambique, the company is leading a landmark 1,500 MW hydropower project on the Zambezi River, while co-developing a 120 MW solar PV plant in Uganda.
Beyond traditional renewables, TotalEnergies is investing in a multi-phase green hydrogen project in Mauritania, in partnership with Chariot Energy, leveraging over 10 GW of solar and wind capacity. The major also recently announced it is partnering with the Tunisian Government to study the implementation of a large-scale green hydrogen project – “H2 Notos” – for export to Central Europe through pipeline. Furthermore, TotalEnergies is contributing to the Morocco-UK Power Project, which aims to develop 11.5 GW of renewable energy in Morocco for both local and European markets.
To support global renewable penetration and enhanced energy security in Africa, TotalEnergies' sustained investments in African oil and gas are essential. In Angola, the company and its partners recently approved a $6-billion investment for the development of the Cameia and Golfinho fields, set to boost the country’s oil production and GDP, generating capital for the development of renewable energy projects like the 35 MWp Quilemba Solar PV plant. TotalEnergies is also investing $600 million to enhance exploration and production in the Republic of Congo’s Moho Nord field, while driving environmental sustainability through projects like the BaCasi initiative, which will plant a 40,000-hectare forest on the Batéké Plateaux and eliminate more than 10 million tons of CO2 over 20 years.
“A diversified, integrated energy future is crucial for the development of Africa’s economy and energy security. TotalEnergies continues to play a vital role in advancing the continent’s oil and gas sector, in tandem with accelerated renewable deployment, to ensure a just transition. We commend TotalEnergies on its efforts to diversify the global power mix while investing and believing in the magnitude of Africa’s energy resources,” states NJ Ayuk, Executive Chairman of the AEC.
Distributed by APO Group on behalf of African Energy Chamber.
AEW: Invest in African Energy is the platform of choice for project operators, financiers, technology providers and government, and has emerged as the official place to sign deals in African energy. Visit www.AECWeek.com for more information about this exciting event.
Source: Apo-Opa
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