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26 Jan, 2021 Author Yannic Rack
Total and SunPower s 75-MW solar plant in Prieska, South Africa, one of the largest in the country.
Source: Total/Laurent Zylberman
Total SE has pulled ahead of the competition in reinventing itself as a broader energy company, deepening its push into renewable energy by buying up companies and assets at a much faster pace than any of its peers in the oil and gas industry.
The company struck a $2.5 billion deal this month to buy a minority stake in Adani Green Energy Ltd., the listed solar power producer controlled by Indian tycoon Gautam Adani. The transaction, which also gives Total a 50% stake in Adani s roughly 3.4 GW of installed solar power plants, was the latest in a string of deals that has put the French group at the forefront of the oil industry s drive to diversify portfolios.