This is part 3 of a 4-part series
After their natural gas projects, oil majors are putting the spotlight on their renewable energy ambitions, most of which are focused on the solar and wind power segments. Total plans to invest $60bn in renewables within 10 years and aims to expand its renewable capacity to 100 gigawatts (GW) globally.
That’s the equivalent of 322 of Africa’s largest wind farm, the Lake Turkana power plant in Kenya, which is due to reach full capacity by 2030. For its part, BP is targeting a renewable capacity of 30 GW with the same timeline, while Shell has pledged to devote $2bn to $3bn a year to green energy projects worldwide.
But, for now, majors’ renewable investments in Africa, unlike those in natural gas, remain cosmetic. While Eni has vowed to pursue solar projects in Egypt and Angola, including Solenova, a joint venture with Sonangol, at this stage its
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