Total: Oddo says buy after agreement in Spain

(CercleFinance.com) - Oddo recommends investors buy the Total share and targets a price of 42 euros, following the agreement between Total and Spain's Ignis to develop 3.
3GW of solar energy near Madrid.
The first phase of the project is expected in 2022 - for completion in 2025.

Total aims to increase its capacity from 6GW in 2020 to 25GW in 2025 and this operation is therefore part of this trajectory. Since the beginning of the year, the group has already initiated several projects with a total capacity of 13GW.

The group wants to change its energy mix to 40% renewable energy, 40% natural gas and 20% oil by 2050, compared to 55% oil, 40% natural gas and 5% renewable at present.


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