BAKU, Azerbaijan, September 29. TotalEnergies aims to significantly expand its electricity business, increasing production by about 20% per year to reach 100–120 TWh annually by 2030, Trend reports.
Roughly 70% will come from renewables, with the remainder from flexible gas generation.
The company is focusing on deregulated markets in the United States, Europe, and Brazil, where it is rolling out its integrated model. Management expects the Integrated Power division to generate positive free cash flow by 2028 and achieve a 12% return on capital employed by 2030.
TotalEnergies said diversification across the electricity value chain strengthens resilience against oil and gas cycles and supports long-term dividend growth.