Today's Edition
PARIS (REUTERS)
French energy firm TotalEnergies plans to divest from all renewable power holdings except those in the United States, Brazil, and Europe, Stephane Michel, the company's gas, renewables and power president said on Monday.
Currently, 25% of the French oil major's operational renewables portfolio comes from its stake in Adani wind and solar assets.
The company announced its growth objectives on Monday, intending to increase energy production by about 4% percent per year through 2030 and projecting oil and gas growth of over 3% per year between 2024 and 2030.
It also plans to increase electricity production by approximately 20% per year through 2030.
Concurrently, the company announced a $7.5 billion savings programme over the period of 2026 to 2030.
Currently, TotalEnergies is trading at $61.98, down 1.85 %on the New York Stock Exchange.
