TotalEnergies will maintain it's focus in the renewable energy sector

TotalEnergies will maintain its focus on seeking business opportunities in the renewable energy sector in the Angolan market and might extend its investments to the hydroelectric sector.

The information was given in Luanda, by the CEO of the TotalEnergies company, Patrick Pouyanné, at the end of an audience that was granted to him by the Angolan Head of state, João Lourenço.

Speaking to the press, Patrick Pouyanné did not rule out the possibility of the company to invest also in the hydroelectric sector, "if it is possible and feasible".

Also in the renewable energy field, he noted that in June 2021 the multinational company that he leads signed an agreement with the Angolan authorities that resulted in the creation of a solar energy park in Huíla Province, in Lubango City.

He said it is an infrastructure that generates around 35 megawatts for the country's electricity grid and can still be extended to another eight megawatts.

In total, the CEO of TotalEnergies revealed, the investment is around USD 100 million.

"This is to show that we are not only focused on the oil and gas sector as it was our tradition, but now we are also in the energy field", he stressed.

Regarding the oil and gas sector, Patrick Pouyanné said that the investments made in Angola were satisfactory and noted that the company currently produced roughly 550,000 barrels of oil daily.

The figure represents almost 50 percent of Angola´s total production, estimated at 1.1 million barrels of oil daily. The meeting with President João Lourenço also served to analyse the possibility of the French company providing solar power to the Angolan mining industry.

Among other aspects, the initiative is focused on reducing production costs in the national mining sector.

At the meeting, the Total Energies CEO presented to the Angolan Head of State, João Lourenço, the Total Energies´ new director for Angola, Martin Deffontaines.

TotalEnergy´s history in Angola began in 1952-1953, when it was awarded its first concession, onshore and offshore, in the Kwanza and Lower Congo basins.

The company is the largest oil operator in Angola. Its most productive block is 17, which is also the country's most prolific.