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Green energy less profitable than black gold

2020-09-27T16:23:44.575Z


European oil companies that rely on renewable energies risk reducing their marginsBy 2025, all of Total's European industrial sites will run on solar energy. The French oil company announced Friday to expand its photovoltaic park in Spain to more than 5 gigawatts - the equivalent of 3 EPRs. Total should take stock of its renewable energy strategy this week during its investor days. One of the challenges: demonstrating that solar or wind power is a bet that can be as profitable


By 2025, all of Total's European industrial sites will run on solar energy.

The French oil company announced Friday to expand its photovoltaic park in Spain to more than 5 gigawatts - the equivalent of 3 EPRs.

Total should take stock of its renewable energy strategy this week during its investor days.

One of the challenges: demonstrating that solar or wind power is a bet that can be as profitable as black gold.

In the spring, the group set the target of having 25 gigawatts of renewable energy by 2025 and achieving energy neutrality by 2050.

Read also:

Wind turbines: the opponents harden their fight

To do this, Total invests 1 to 2 billion euros per year in low-carbon electricity, which represents 10% of its overall investments.

It is about finding sources of growth.

According to British BP forecasts, the peak in oil consumption has already been reached and consumption of black gold will continue to decline in the future.

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Source: lefigaro

All business articles on 2020-09-27

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