The world’s energy future is being shaped by the dual challenge of climate change and growing demand for electricity, with renewable energies set to play a crucial role in this new environment. To become the responsible energy major means taking these realities into account by investing heavily in renewables, and particularly in solar and onshore and offshore wind – three fast growing sources of energy that boast many advantages in that they are abundant, clean, flexible, efficient and competitive.
Why we believe in renewable energies
According to the Sustainable Development Scenario (SDS) from the International Energy Agency (IEA), the share of renewable energies in the global energy mix is expected to increase sharply, from 14% currently to more than 30% in 2040. Alongside natural gas, the least carbon-intensive fossil fuel, renewables will make it possible both to meet the world’s growing demand for electricity and to limit global warming.
Electricity will be the energy of the 21st century. Over the next 20 years, electricity demand will increase faster than the demand for energy as a whole and should double between now and 2040. With this in mind, we are committed to meeting this need by adapting our energy mix to give greater prominence to natural gas and renewables. This approach serves to further our bold ambition of becoming the responsible energy major.
Total’s ambition for renewable energies
Becoming the responsible energy major means developing new businesses, new activities and cutting-edge technologies in the area of renewable energies, with the ambition of expanding their share in our portfolio by 2035.
To make this happen, we are targeting a renewable electricity generation capacity of 25 gigawatts by 2025 thanks to the expertise of our affiliates Total Solar, Total Eren, Total Quadran et SunPower.
Through our affiliates, we are developing our positions in photovoltaic solar and onshore and offshore wind power generation. We do everything from manufacturing cells to selling low carbon electricity, not to mention designing and operating solar and wind farms and installing distributed solar solutions for individuals and industrial and commercial customers.
These positions in renewable power generation are complemented by investments in storage capacity via the expertise of our Saft affiliate. Energy storage is a major challenge for the future of power grids and serves as a critical ally to renewable energies, which are inherently intermittent.
Lastly, as part of our goal to diversify our energy mix, we are also investing in bioenergies and hydraulic and wind energy through our affiliate Total Quadran and our stake in Total Eren.
* from natural gas and renewable energies