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Total SA: Another Oil Major Veers Into Renewables


first_imgMore: ($) Total becomes latest oil major to make a renewable play FacebookTwitterLinkedInEmailPrint分享Financial Tribune:Oil major Total moved forward with its plan to expand in the renewable energy sector on Tuesday with investments in EREN RE and Greenflex.Total said it was buying a 23% stake in renewables company EREN RE for $285 million and added it could later acquire full control of the business, Reuters reported.It also announced the takeover of Greenflex, a French company specializing in finding ways to use energy more efficiently, which is forecasting 2017 revenues of more than $420 million. Total did not give a value for that deal.The company said the deals formed part of its strategy to expand its solar energy and wind power business.“EREN RE’s momentum will allow us to accelerate our growth in solar energy and move us into the wind power market. The agreement with EREN RE is a major step towards our objective of achieving 5gigawatts of installed capacity in five years,” said Philippe Sauquet, president of Total’s gas, renewables and power units, in a statement.Sauquet added Total wanted GreenFlex to be the “linchpin of its growth in the energy efficiency industry in Europe.”Europe’s biggest oil companies, which have been bruised by pressure on oil prices over the last two years, have been intensifying their push into renewable energy as they hunt for new sources of future revenue.Last year, Total’s startup ventures unit acquired a stake in wind turbines company United Wind, while Total also announced plans to install solar panels at 5,000 of its service stations.More: Total SA Steps Up Renewables Drive GreenFlex offers sustainability solutions to 600 clients worldwide and is expected to reach more than €350 million in revenues by the end of this year, according to a Total press release. The deal is expected to close sometime during the fourth quarter. The two deals align with Total’s strategy to address climate challenge and become a “responsible energy major,” Sauquet and Total chairman and CEO Patrick Pouyanné both said in separate statements. Paris-based EREN RE has a portfolio of 650 MW of renewable energy projects in operation or under construction and plans to install more than 3,000 MW worldwide by 2023, according to a Total press release. Total will invest €237.5 million once it receives regulatory approval and will have an option to fully acquire EREN RE after five years. SNL:Another oil major is investing heavily in renewable energy. French energy giant Total SA said on Sept. 19 that it is purchasing a 23% stake in renewable energy company EREN and acquiring energy efficiency company GreenFlex. Total SA: Another Oil Major Veers Into Renewables “EREN RE’s momentum will allow us to accelerate our growth in solar energy and move us into the wind power market,” Philippe Sauquet, president of Total’s gas, renewables and power group, said in a statement. “The agreement with EREN RE is a major step towards our objective of achieving 5 GW of installed capacity in five years.”last_img read more


Sarajevo Football Club Receives Two New Players and Chairman of Board


first_imgThe football club Sarajevo received two new players today for the continuation of the tournament.Mario Barić and Dario Purić signed contracts tomorrow, and they were presented officially to journalists today after the Assembly of the club.Sarajevo football club also has a new Chairman of the Board of this football club, Edis Kusturica.Kusturica, who in the past held the position of Vice-President of the club, received unanimous support from the delegates at today’s Assembly Election.(Source: Fena)last_img


Jackson gambles on Wafer


first_img Yet Wafer might have emerged with a winning hand from Friday’s news that the NBA suspended Kobe Bryant two games for a flagrant foul on Memphis guard Mike Miller in the fourth quarter Wednesday night. There is a strong possibility that Wafer, a second-round draft pick who has played all of six games and 19 minutes as a rookie, will start in Bryant’s place tonight against the Utah Jazz at Staples Center. “He has a world of talent,” Odom added. “He’s a great offensive player.” Jackson surprised even the 20-year-old guard by playing him briefly on Christmas against Miami’s Dwyane Wade. Injury report: The Lakers suffered a scare when Lamar Odom twisted his right ankle driving the lane at the end of practice. Odom and Jackson both thought the 6-foot-10 forward would play tonight. Bryant stayed home with the flu and is not allowed to attend either game for which he has been suspended. Hard knocks: Jackson was asked what would have happened in his playing days if Bryant had delivered an elbow to the chin like he did to Miller. “That would have instigated a fight,” Jackson said. “If you did something like that, it definitely meant that you weren’t playing the person as a basketball player, you were out there to initiate rough stuff.” No Kobe: Odom said Friday he wanted all five starters to finish in double figures playing without Bryant. Jackson described his players as “licking their chops” thinking about the 30 shots that are now available for the taking. “I feel like this offense provides a lot of opportunities,” center Chris Mihm added, “and we’ve got a lot of guys that are, in my mind, very underrated offensively and defensively.” Ross Siler, (818) 713-3610 [email protected] 160Want local news?Sign up for the Localist and stay informed Something went wrong. Please try again.subscribeCongratulations! You’re all set! EL SEGUNDO – Through the first three months of the season, Lakers guard Von Wafer has garnered as much attention for his card playing as anything he has done on an NBA court. There was nothing subtle about coach Phil Jackson’s decision to give Wafer a copy of “Poker for Dummies” when he handed out books to the Lakers players on their six-game road trip last month. center_img AD Quality Auto 360p 720p 1080p Top articles1/5READ MORECoach Doc Rivers a “fan” from way back of Jazz’s Jordan Clarkson “Von has a lot of game,” Jackson said. “He’s an aggressive player. Sometimes you’ve got to harness him a little bit.” The Lakers are down to just 11 available players, three of them rookies, with Bryant suspended. Wafer returned to the active roster only last week when guard Laron Profit was lost for the season with a ruptured Achilles tendon. “I just try not to put too much pressure on myself,” Wafer said. Wafer has been described by Jackson as an “unstoppable” scorer in practice. The 20-year-old guard admitted Saturday he might benefit from not having to find his rhythm coming off the bench. last_img read more