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TotalEnergies spending more on US renewables as others exit, says CEO

Published by Global Banking & Finance Review

Posted on November 2, 2026

2 min read

· Last updated: November 2, 2026

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TotalEnergies Accelerates US Renewable Projects Amid Developer Exits and Policy Shifts

Market Dynamics and Strategic Moves in US Renewables

By Dominique Patton

TotalEnergies Seizes Opportunities as Developers Exit

PARIS, Nov 2 (Reuters) - French oil major TotalEnergies is benefiting from concerns about future growth in the US renewable energy market and taking on more projects as other developers seek to exit, CEO Patrick Pouyanne said on Monday, describing the market as "promising" despite an upcoming reduction in policy support.

Policy Shifts Impacting Renewable Energy Development

• A US tax law enacted in 2025 accelerated the phase-out of wind and solar tax credits, with most new projects required to begin construction by July 2026 or enter service by the end of 2027 to qualify

Acceleration of Projects to Meet Policy Deadlines

• Developers, including TotalEnergies, are accelerating projects to benefit from the policy, Pouyanne said during a briefing on the company's energy outlook on Monday, adding that the French company had "ramped up" its focus on wind, taking on additional projects

Market Sentiment and Developer Concerns

• "Since everyone is anxious, it's a good market for us," said Pouyanne, adding there was a fear among developers who expect the market to collapse around 2028 or 2030

TotalEnergies’ Strategic Investments and Acquisitions

• That created an opportunity for TotalEnergies to acquire projects currently in development and handle the construction, he said

• TotalEnergies is spending slightly more in the US than originally planned, Pouyanne said, due to the larger size of projects in the country compared with European projects.

(Reporting by Dominique Patton. Editing by Mark Potter)

Key Takeaways

  • TotalEnergies is capitalizing on market exits by other developers to acquire and accelerate U.S. wind and solar projects, describing the U.S. renewables market as “promising” despite policy pullbacks.
  • The 2025 U.S. tax law (the “One Big Beautiful Bill” signed on July 4, 2025) accelerates the phase‑out of wind and solar tax credits—projects must begin construction by July 4, 2026 and be operational by end‑2027 to qualify, under safe‑harbor rules.
  • TotalEnergies is increasing U.S. renewables spending relative to initial plans due to project scale, and is diversifying by combining wind acquisitions with construction capabilities to deliver firm power.

Frequently Asked Questions

Why is TotalEnergies increasing spending on US renewables?
TotalEnergies is increasing spending in the US renewable energy market due to opportunities arising as other developers exit, and the company's confidence in market growth despite policy changes.
What policy changes are impacting US renewable energy projects?
A US tax law enacted in 2025 accelerates the phase-out of wind and solar tax credits, affecting project timelines and developer strategies.
How is TotalEnergies reacting to market anxiety among developers?
TotalEnergies is acquiring and accelerating projects as other developers anticipate a market decline and seek to exit, enabling the company to expand its portfolio.
What timeline do new US renewable projects need to meet to qualify for tax credits?
Projects must begin construction by July 2026 or enter service by the end of 2027 to qualify for the remaining tax credits.
How do US renewable energy project sizes compare to those in Europe?
According to CEO Patrick Pouyanne, project sizes in the US are generally larger than those in Europe, leading TotalEnergies to spend more than initially planned.

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