Total to change name to TotalEnergies as part of shift to broad energy company

Total SE will propose to change its name to TotalEnergies as part of its plan to become a broad energy company amid the global clean energy transition.

Total said it will transform its company profile from 2020 to 2030, with its energy production to mainly consist of LNG, and renewables and electricity, according to a Feb. 9 news release. Its oil products are expected to decrease from 55% of sales to 30%.

Total will pitch the name change to its shareholders on May 28 during the company's annual general meeting.

In January, Total announced a $2.5 billion acquisition of a 20% stake in Adani Green Energy Ltd., the world's largest solar developer. Total now has a portfolio of gross installed capacity of 35 GW, more than 20 GW of which already benefits from long-term power purchase deals. The company in May 2020 unveiled its goal to cut back its emissions and become a net-zero company for its European businesses by 2050.

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