Like Baker Hughes, Technip Energies and Azimut, TotalEnergies is looking to invest in Zhero Europe, a structure specialising in green projects. The aim is to develop large-scale renewable energies in Europe and Africa, with a focus on hydrogen.
TotalEnergies’ press release mentions “green molecules.” Producing green hydrogen is well and truly the objective here. It will mostly be through solar energy and used in the form of synthetic fuels, for instance. “Zhero Europe’s ambition is to supply Europe with abundant, affordable and clean energy from the best production sites to major consumer markets, particularly in North Africa.* We therefore welcome the opportunity to join forces with Zhero Europe and its other investors to support the development of these pioneering projects, to the mutual benefit of Europe and Africa,” comments Stéphane Michel, Managing Director Gas, Renewables & Power at TotalEnergies.
They were already working together through TES
Zhero Europe has invested in a company called TES, which combines green hydrogen with recycled CO2 to create e-NG (electric natural gas). This gas can replace fossil molecules. “Using proven technology and existing infrastructure, this is the world’s most immediate way to start reducing global emissions and scale up the hydrogen economy to reach net-zero,” as states the website. TotalEnergies is already working with the company.
“Green energy is already cheaper than fossil fuels in many countries, and we need to accelerate the development and construction of projects to close the growing gap between action and ambition on climate,” say Paddy Padmanathan and Alessandra Pasini, respectively Chairman and Managing Director of Zhero Europe.
TotalEnergies wants to speed on green energies projects
TotalEnergies, which is aiming for carbon neutrality by 2050, had gross renewable electricity generation capacity of 19 GW at the end of July. The aim is to reach a gross renewable generation and storage capacity of 35 GW in 2025. Then 100 GW in 2030. The Group’s ambition is to be one of the world’s top 5 producers of electricity from wind and solar power.
Last year, Technip invested in Hy2gen. As for Baker Hughes, it has launched several green hydrogen projects, including one with Forstecue Future Industries.
*North of Africa is set to play a key role in hydrogen exports (read our article).
Do you want to learn more about TotalEnergies’ investments in green hydrogen projects? Then our latest 2 articles on the group should interest you. You can read them here and there.
Article written by Laurent Meillaud and translated by Logan King
