Oil major Total targets expansion into European retail power market
Total is looking to broaden its revenue streams with expansion in a retail power and gas market in which demand is shifting to low-carbon energy from more polluting fossil fuels.
Total has said it plans to invest between $1.5 billion and $2 billion a year on low-carbon electricity.
Rival Royal Dutch Shell, which is expanding its own retail power business, has said it plans to invest the same amount on renewables and low-carbon business.
Total bought Belgium’s Lampiris in 2016 and Direct Energie last year for $1.7 billion, merging the businesses in its push to become a so-called integrated player operating gas-fired, wind, solar and hydropower generation while also selling power directly to retail clients.
The group had set a target of 7 million clients across France and Belgium — about 15 percent of the market — by 2022, up from 4 million currently.
GRP’s Saft join forces with the Chinese Group Tianneng
Saft a subsidiary of Total, has signed an agreement with Tianneng Energy. Technology (TET), a subsidiary of the Chinese privately-owned Tianneng Group, to create a joint venture (JV) to expand their lithium-ion activity
"This is a first strategic move driven by Total, following the acquisition of Saft in 2016, to grow Saft's activity in China, the world’s largest renewables market, as well as in the ESS segment as an essential component to the large scale development of intermittent renewable energies," said Patrick Pouyanné, Chairman and CEO of Total.
Total donates 100 million euros to Notre Dame
A major fire engulfed the medieval cathedral of Notre-Dame in Paris, one of France's most famous landmarks.
The 850-year-old Gothic building's spire and roof collapsed but the main structure, including the two bell towers, has been saved.
President Emmanuel Macron called it a "terrible tragedy".
Officials say it could be linked to the renovation work that began after cracks appeared in the stone, sparking fears the structure could become unstable.
