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TOTAL Sells 50% of Its Solar & Wind Power Assets in France
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TOTAL S.A. announced that its subsidiary, Total Quadran has signed an agreement with Banque des Territoires to sell 50% of its solar and wind power assets in France. Total Quadran’s current wind and solar portfolio consists of 11 wind farms and 35 solar power plants, with a cumulative capacity of 96 megawatts (“MW”) and 47 MWs, respectively.
This deal with Banque des Territoires will aid TOTAL to continue with the development of renewable assets in the region. TOTAL, through its subsidiaries, currently operates more than 300 renewable energy plants in France with a total capacity of 900 MW.
Renewable Development Plans in France
The French government has plans to substantially increase investment in renewable assets development in the nation. The aim is to invest $9.05 billion (8 million euros) annually, with a total investment to 71 billion euros in the 2019-2028 time period.
TOTAL, through its subsidiaries, is expanding renewable assets in France. TOTAL has more than 500 MW of renewable projects in development, at present. These are split between wind and solar assets. The latest deal will help the company to generate funds for investment in new renewable projects in the region.
TOTAL’s Long-Term Renewable Plans
TOTAL’s long-term plan is to develop clean renewable assets and take the current worldwide renewable energy capacity of 3 gigawatts (GW) to more than 25 GWs of renewable energy by 2025. The acquisition of SunPower Corporation (SPWR - Free Report) enabled TOTAL to expand its footprint in the renewable space.
TOTAL is working to develop clean energy development projects in different regions. The company is gradually building a portfolio of low-carbon businesses that could account for 15-20% of sales by 2040.
Renewables in Focus
The U.S. Energy information Administration (“EIA”) release indicated that clean renewable energy will account for the majority of global power generation by 2050. Per EIA, nearly 28% of the world’s power was attributed to renewables in 2018, courtesy of improved technology and increasing awareness about emissions. Renewable sources are expected to account 49% of global power generation by 2050.
Since there is immense growth opportunity in the renewable energy space, we can notice that oil and gas companies like Chevron Corporation (CVX - Free Report) , and Royal Dutch Shell Plc. among others, are also investing to expand their renewable assets portfolio.
Price Performance
TOTAL’s shares have outperformed its industry in the past three months.
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Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.
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TOTAL Sells 50% of Its Solar & Wind Power Assets in France
TOTAL S.A. announced that its subsidiary, Total Quadran has signed an agreement with Banque des Territoires to sell 50% of its solar and wind power assets in France. Total Quadran’s current wind and solar portfolio consists of 11 wind farms and 35 solar power plants, with a cumulative capacity of 96 megawatts (“MW”) and 47 MWs, respectively.
This deal with Banque des Territoires will aid TOTAL to continue with the development of renewable assets in the region. TOTAL, through its subsidiaries, currently operates more than 300 renewable energy plants in France with a total capacity of 900 MW.
Renewable Development Plans in France
The French government has plans to substantially increase investment in renewable assets development in the nation. The aim is to invest $9.05 billion (8 million euros) annually, with a total investment to 71 billion euros in the 2019-2028 time period.
TOTAL, through its subsidiaries, is expanding renewable assets in France. TOTAL has more than 500 MW of renewable projects in development, at present. These are split between wind and solar assets. The latest deal will help the company to generate funds for investment in new renewable projects in the region.
TOTAL’s Long-Term Renewable Plans
TOTAL’s long-term plan is to develop clean renewable assets and take the current worldwide renewable energy capacity of 3 gigawatts (GW) to more than 25 GWs of renewable energy by 2025. The acquisition of SunPower Corporation (SPWR - Free Report) enabled TOTAL to expand its footprint in the renewable space.
TOTAL is working to develop clean energy development projects in different regions. The company is gradually building a portfolio of low-carbon businesses that could account for 15-20% of sales by 2040.
Renewables in Focus
The U.S. Energy information Administration (“EIA”) release indicated that clean renewable energy will account for the majority of global power generation by 2050. Per EIA, nearly 28% of the world’s power was attributed to renewables in 2018, courtesy of improved technology and increasing awareness about emissions. Renewable sources are expected to account 49% of global power generation by 2050.
Since there is immense growth opportunity in the renewable energy space, we can notice that oil and gas companies like Chevron Corporation (CVX - Free Report) , and Royal Dutch Shell Plc. among others, are also investing to expand their renewable assets portfolio.
Price Performance
TOTAL’s shares have outperformed its industry in the past three months.
Zacks Rank
TOTAL currently has a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
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