New analysis from Westwood Global Energy Group (Westwood), an energy market research and consultancy firm, reveals Total will outpace clean energy majors Iberdrola and Ørsted on renewable power capacity by 2030.
The insight highlights the oil and gas company’s ambitions to reach 100GW of renewable power capacity by 2030, eclipsed only by utility Enel which aims to have 145GW. In comparison, Iberdrola set targets of 95GW and Ørsted 30GW. To meet this target, Total has already invested $ 8 billion in renewables and power between 2016 and 2020 with a significant focus on solar PV. The research reviews the portfolios of European oil and gas companies BP, Shell, Total, Repsol, ENI and Equinor alongside clean energy companies Iberdrola, Enel, NextEra Energy and Ørsted. In addition to renewable power capacity comparisons, the insight highlights key technologies, portfolio investments and growth regions for each company.