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Wednesday, July 28, 2021
Home Upstream Industry TotalEnergies targets $60bn renewable projects in 10 years

TotalEnergies targets $60bn renewable projects in 10 years

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TotalEnergies said it would be investing about $60 billion in renewable projects over the next 10 years with 10 per cent of the spending to be domiciled in Nigeria as the company moves to become one of the world’s top five renewables company by 2030.

According to Executive General Manager, Total Country Services, Mrs Bunmi Popoola-Mordi, at a virtual news briefing on Wednesday, TotalEnergies is targeting reduction of its carbon emission by 40 per cent in 2030, with the goal of getting to zero carbon emission by 2050.

She noted that Nigeria is vital to TotalEnergies’ operations and would receive part of the funds to accelerate the energy transition, stressing that as part of the transition, TotalEnergies would from next month begin the rebranding of all its filling stations across the country to reflect the new name, logo and direction.

“By the end of 2022 or first quarter of 2023, we should have completed the rebranding exercise. Now, we are engaging other stakeholders on the new initiatives that would see  TotalEnergies investing more in renewable energy.

Currently, the international oil company is the second highest crude oil producer, contributing 15 per cent of daily output for export.

While explaining the reason behind the change of name from Total to TotalEnergies, Popoola-Mordi said Total had on May 28 transformed into TotalEnergies as an active player in the global energy transition as part of its commitment to combating climate change worldwide.

“As part of its mission and vision, TotalEnergies will continue to contribute to the sustainable development of the planet facing the climate challenge, we are moving forward, together, towards new energies. Energy is reinventing itself, and this energy journey is ours. Our ambition is to be a world-class player in the energy transition. That is why Total is transforming and becoming TotalEnergies”, she said.

Popoola-Mordi said further: “Energy is life. We all need it and it’s a source of progress. : “TotalEnergies is a broad energy company committed to producing and providing energies that are ever more affordable, reliable and clean. The new name and new visual identity embody the course TotalEnergies has resolutely charted for itself. We shall continue to invest on oil, natural gas, electricity, hydrogen, biomass, wind and solar”, she said.

Country Communications Manager, TotalEnergies, Dr. Charles Ebereonwu, noted that Nigeria would continue to be at the company’s center of transition because of its abundant abundant gas resources and sunlight for solar projects as well as oil exploration, stressing that TotalEnergies has been operating in Nigeria for over 60 years and would remain as major operator in the country.

He said 77 TotalEnergies filling stations had been solarised already, and the company would key into the Federal Government’s Decade of Gas Development initiative to further drive the objective.

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