TotalEnergies begins its largest European solar power project
Cluster produces 515 gigawatt hours of electricity per year
The majority of the contracts will be long-term.
The major energy companies are pulling out of renewable energy
By America Hernandez
PARIS, MAY 22 - French oil giant TotalEnergies announced on Thursday that it has begun a cluster project of five solar panels in Seville, Spain. This will be its largest solar project ever in Europe.
In a press release, Olivier Jouny said that the deal cements Total as Spain's 4th largest provider of electricity and natural gas services. It also contributes to Spain reaching its goal of 80% renewable electricity by 2030.
The five sites total 263 megawatts. The five sites will generate 515 gigawatt hours of renewable electricity per year, enough to power 150 000 households.
The major energy companies are reversing their short-lived shift to renewable power, in pursuit of higher profit margins and after pressure from shareholders and Donald Trump's political shift away from fossil fuels.
TotalEnergies, however, has 28 gigawatts in gross installed renewable power worldwide. The company aims to reach 35 GW this year as part of its strategy to increase investment in renewables along with oil and gas.
The majority of electricity produced will go through long-term power purchase contracts, while the remainder is sold on the wholesale markets.
The regional Andalusian Government declared the Seville project of strategic importance and it generated 800 direct and indirectly jobs. (Reporting and editing by Barbara Lewis in Paris, America Hernandez reporting from Paris)
(source: Reuters)
