(Oil & Gas 360) – TotalEnergies is increasing its investment in U.S. renewable energy projects as uncertainty surrounding federal tax incentives and future industry growth encourages competing developers to sell or abandon planned developments, creating acquisition opportunities for the French energy major.
Chief Executive Patrick Pouyanné said November 2 that TotalEnergies is spending slightly more in the United States than originally anticipated, taking advantage of opportunities to acquire projects already under development while other companies reassess their exposure to the market.
The strategy comes as changes to U.S. energy tax policy accelerate the phaseout of federal incentives supporting wind and solar projects.
Legislation enacted in 2025 shortened the timetable for qualifying for certain clean electricity tax credits, generally requiring eligible wind and solar projects to begin construction by July 2026 or enter service before the end of 2027, subject to applicable rules and exceptions.
These deadlines have encouraged developers to accelerate construction schedules while raising questions about the economics of projects that cannot qualify for incentives.
Pouyanné said...