TotalEnergies plans to invest $6bn in the Nigerian clean energy sector between now and 2030

NIGERIA is to attract $6bn worth of investment in clean energy by 2030 after energy giant TotalEnergies announced that the country would receive 10% of its planned $60bn expenditure in renewables over the next nine years.

TotalEnergies, the French multinational integrated oil and gas company founded in 1924, covers the entire oil and gas chain, from crude oil and natural gas exploration and production to power generation, transportation, refining and petroleum product marketing. It recently changed its name to TotalEnergies in order to  improve its ambition to be a world energy player.

Keen on becoming a major player in the clean energy sector, the company plans to become one of the first five global renewable energy companies. TotalEnergies executive general manager Bunmi Popoola-Mordi, pointed out that the company changed its name to TotalEnergies in order to  improve its ambition to be a world energy player.

Mrs Popoola-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.

“By 2030, we want to be one of the top five in the renewable energy states. We have set precise energy target for 2030 and as a result, we will invest $60billion in renewable projects,” Mrs Popoola-Mordi added.

She added that in 2030, the firm will raise its renewable capacity to 100gigawatts. By 2025, according to her, the company will increase its gas capacity by 12m and electric charging points to 150,000.

Mrs Popoola-Mordi said: “By 2025, we will increase our electric charging points to 150,000. As at last year, we had about 21,000 charging points and also, 2025, we plan to increase our gas capacity by 12m.

“In 2030, we will grow our renewable capacity to 100gigawats. We will produce 46gigawatts of electricity from biogas as well as producing 5m.”

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.

 “We are up-skilling our people and there will be no negative impact. There are always opportunities because as we are innovating, there are opportunities and we will be needing people in these areas,” Mrs Popoola-Mordi said.