No limit on Total’s renewables strategy
Diversity is the name of the game for Total. The French multinational is looking firmly to the future and further developing sources of renewable energy, particularly to feed the hunger for what the company describes as the “energy of the 21st century” - electricity.
“Total has been in the energy sector for decades, demand for electricity is only going to increase and we know we want to be a part of that market. Diversifying is what will keep us strong,” explains Thomas Rebeyrol, Senior Vice President Strategy, Growth & People, Total Gas Renewables & Power.
Rebeyrol has been with the company for more than two decades and knows Total’s strategy inside-out, “Ten years ago renewables were a new world for us, but we want to be as successful as we’ve been with oil. It’s a change of gear, but we’ve done pretty well considering electricity provision was a state monopoly in much of Europe until relatively recently.”
The company works in the B2B gas and power sector in the UK, France, Belgium, the Netherlands, Germany and Spain, as well as B2C in France and Belgium, investing between $1.5B and $2B annually in low-carbon electricity production.
The bulk of those investments are in solar and wind technologies. “We offer a wide range of renewable deals in different countries. Our European strategy is very similar to what we do with our traditional oil business, we are producers, providers and suppliers to the end user,” explains Rebeyrol.
After entering the B2C market as an electricity and gas supplier with the acquisition of the Belgian company Lampiris in 2016, Total went on to acquire France’s Direct Energie in 2018. The diversification brought its own challenges, such as how to provide well-priced clean energy solutions, not just to big industry, but directly to customers.
With the Direct Energie buyout, Total boosted its customer base in gas and power from 1.5 million to 4 million overnight. A figure that is climbing, thanks to a focused 10-15 year strategy, according to Rebeyrol, “We’re looking to add half a million customers a year in France and Belgium.”
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