TotalEnergies to contribute to the development of the Indian natural gas and solar markets
TotalEnergies aims to provide energy that is affordable, reliable and cleaner while satisfying the energy needs of a growing world population and curbing global warming. TotalEnergies published its climate ambition in May 2020: to reach Net Zero emissions, together with society, by 2050, because the company wants to support its customers in decarbonizing their energy. As part of this ambition, TotalEnergies is building a portfolio of activities in renewables and electricity that could account for up to 40% of its sales by 2050. At the end of 2020, TotalEnergies gross power generation capacity worldwide was around 12 GW, including close to 7 GW of renewable energy. With the objective of reaching 35 GW of production capacity from renewable sources by 2025, TotalEnergies recently acquired 50% stake in a 2.35 GWac portfolio of operating solar assets owned by AGEL and a 20% stake in AGEL for a global investment of USD 2.5 Billion. AGEL, has over 14.6 GW of contracted renewable capacity, with an operating capacity of 3 GW and another 3 GW under construction and 8.6 GW under development. The company aims to achieve 25 GW of renewable power generation by 2025.
The partnership with AGEL in the renewables space in India will be a key contributor to TotalEnergies’s objective of reaching 35 GWp of gross production capacity from renewable sources by 2025 and adding 10 GWp per year afterwards.