Collaboration key to O&G renewables push
Renewables companies have enough capital without IOC investment, and collaboration as well as M&As will be vital for IOC looking to gain marketshare
Total will outpace clean energy majors Iberdrola and Orsted in terms of renewable power capacity by 2030, according to analysis from Westwood Global Energy Group. But while Total has gained renewable capability quickly with an aggressive M&A strategy, such approaches will not be enough for oil and gas companies to gain market share in renewables. Rather, Westwood says collaboration is going to become key. The report quoted Total’s ambitions to reach 100GW of renewable power capacity by 2030, eclipsed only by Italy’s Enel, which aims to have 145GW. In comparison, Iberdrola set targets of 95GW and Orsted 30GW. While Total went on a spending spree last year for renewable companies, David Li
![](/images/white-fade.png)
Also in this section
21 July 2024
Awards experience 20% increase in nominations this year, with submissions from 27 countries
18 July 2024
Platform developed at Scottish university uses advanced simulations and machine learning to find most cost-effective and sustainable combinations of materials for use in carbon capture
18 July 2024
Stockholm Exergi agrees to one of world’s largest deployments of CO₂ liquefication technology to enable transport of emissions captured from biomass power plant
11 July 2024
Watkins will leverage her financial acumen and strategic insight to lead Gulf’s commercial initiatives across media, events, and market intelligence