TotalEnergies Plans to Raise Electricity Share of Energy Mix to 25% by 2035
en.Wedoany.com Reported - On September 28, TotalEnergies held its 2026 Strategy & Outlook investor event in New York, unveiling its medium- and long-term growth plan for 2030 to 2035. The company proposed that by 2035, the share of its electricity business in its overall energy mix will rise to approximately 25%, while continuing to treat oil and gas and integrated power as its two core business pillars.
Under the company's plan, from 2030 to 2035, TotalEnergies' oil and gas production is expected to maintain average annual growth of approximately 2%–3%, while continuing to expand its power generation scale. The company expects net power generation to increase by approximately 10–12 terawatt-hours per year during this period, and to expand its integrated power segment through businesses including renewables, power trading, energy storage, and flexible generation capacity. According to Recharge, TotalEnergies aims to raise electricity's share of the group's energy portfolio to one quarter by 2035.
In terms of capital expenditure, TotalEnergies plans to invest approximately US$14 billion–17 billion per year from 2027 to 2032, with funds continuing to be directed toward oil and gas projects and the electricity business. The company has previously built a global portfolio of wind power, solar power, natural gas-fired generation, battery storage, and power sales assets, and treats its integrated power business as a second growth pillar developing in parallel with traditional oil and gas.
TotalEnergies currently operates in approximately 120 countries, with net power generation reaching 48 terawatt-hours in 2025, of which renewable power generation was approximately 31 terawatt-hours. With the newly proposed target of electricity accounting for 25% by 2035, its subsequent capital allocation will continue to extend toward power generation assets, energy storage, power trading, and end-user electricity markets.
