BAKU, Azerbaijan, February 22. Total Energies' net power production in 4Q2023 dropped by 10 percent quarter-to-quarter to 8.0 TWh, Trend reports.
According to the company's report, this is primarily due to reduced CCGT generation.
For the entire year of 2023, net power production increased by 1 percent year-on-year to reach 33.4 TWh.
This rise was attributed to a decrease in generation from flexible capacity, which had an exceptionally high utilization rate in 2022 during the energy crisis in Europe, Total Energies explains. However, this decline was more than offset by the growing electricity generation from renewables, connected to the integration of 100 percent of Total Eren and contributions from Clearway in the US and Casa dos Ventos in Brazil.
By the end of the fourth quarter of 2023, the company's gross installed renewable power generation capacity exceeded 22 GW, marking an increase of over 2 GW from the previous quarter. This included the installation of 1.3 GW in the US (Clearway, Danish) and 0.5 GW from the establishment of a new 50/50 joint venture with AGEL in India. Throughout 2023, the gross installed renewable capacity expanded by almost 6 GW.
Meanwhile, TotalEnergies' adjusted net income amounted to $23.2 billion in 2023. This marked a decrease of 36 percent year-on-year ($36.1 billion in 2022).