TotalEnergies Plc yesterday said that by 2030, it will be investing $60 billion in renewable energy projects.
It noted that 10 per cent of the investments will be in Nigeria.
The company’s Executive General Manager, Mrs. Bunmi Popoola-Mordi, made this known in a virtual media parley on the firm’s change of name.
She noted that Total E&P changed its name to TotalEnergies in order to improve its ambition to be a world energy player.
Mordi explained that the change and target at other seven forms of energies were in order to change with the tide of global energy demands and climate change.
She recalled that the company was also part of the Paris Agreement on Climate Change in 2015.
The company, according to her has targeted to be among the first five global renewable energy states.
Her words: “By 2030, we want to be one of the top five in the renewable energy states. We have set precise energy target for 2030. It is that we will invest $60billion in renewable projects”
She added that in 2030, the firm will raise its renewable capacity to 100gigawatts capacity.
By 2025, according to her, the company will increase its gas capacity by 12million and electric charging points to 150,000.
Her words: “By 2025, we will increase our electric charging points to 150,000. As at last year, we had about 21,000 charging points. Also, 2025, we plan to increase our gas capacity by 12million.
“In 2030, we will grow our renewable capacity to 100gigawats. We will produce 46gigawatts of electricity from biogas as well as producing 5million”.
Asked whether the changes in the company will result in job loss, she noted that it will not impact on Nigeria or any other country negatively.
She explained that there will be need for employment in the new opportunities that the renewable will bring.
Mordi said “We are up-skilling our people. There will be no negative impact on our people. There are always opportunities. As we are innovating, there are opportunities. We will be needing people in these areas”.
She insisted that the firm will not abandon any of its ongoing projects as a result of the name change and diversification.
She recalled that the company’s CEO Mr. Mike Sangster had recently revealed that the firm is carrying out new exploration, adding that the changes will be in line with the policy of the government of the country.
Mordi revealed that the company which is expecting approval from its shareholders, looks forward to effect the name change in its stations in the next months.
She stressed that by the first quarter of 2023, the firm would have rebranded all its stations to TotalEnergies.
Speaking, the External Relations Manager, Mr. Charles Ebereonwu, noted that gas is going to constitute 40 per cent of the energy mix.
He also said the changes will give opportunities to new competences instead of claiming jobs.