Total will expand its presence in the renewable energy sphere, planning to add 35GW of renewable energy generation capacity by 2025 from its current capacity of 9GW.
Leveraging an investment budget for electricity and renewables of over US$2B in 2021,the company is seeking to prioritize clean power and energy development,according to Patrick Pouyanné, CEO of Total.
The company is also fast-tracking the construction of solarized service stations, targeting a minimum of 5,000 solar-powered stations across 57 countries by 2025.
As for continued oil exploration, the French major will focus on low-cost and easy-to-develop prospects.
“If we can develop at less than US$20 per barrel, we consider that it will be resilient for the long term,” said Pouyanne.