Huge RES investment in Greece by TOTAL ?

A huge investment in RES in Greece is reportedly being considered by the French giant TOTAL, where for the future it plans to evolve from an oil group to an energy group where this also indicates the group’s new name in TotalEnergies.

According to reports, the management of the group wants to make very large investments in renewable energy sources and has also been in contact with Greek officials in order to be informed about TotalEnergies’ plans concerning this investment.

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Total has also been active in the FIELD of RES in Greece since 2013 and acquired Eren in 2017. Today Eren-Total has 350 MW in Greece in operation and construction. It operates 13 wind farms and 8 photovoltaics while another 4 photovoltaics are in construction and has a project portfolio of 500 MW.

Huge RES investment

Total Group’s investment programme in RES internationally in 2021 amounts to 4 billion euros while as recently announced by the group for 2021 it plans total investments of up to $12-15 billion with half of them related to sustainable development. The group’s strategy is to invest in profitable projects that reduce the carbon footprint and gradually turn the group into an international energy group. 50% of the group’s development investments will be allocated to renewable sources and electricity.

Meanwhile on Friday the TOTAL group announced that it is also changing its name and is due to propose its new name TotalEnergies on 28 May during the general meeting of shareholders. Chief executive Patrick Ouyanne said “The group has set a target of zero emissions by 2050 on all products it produces and energy and by 2030, it is committed to reducing emissions by 40%.”

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