Total CEO Voices Concern About French Renewable Acceleration Law

TotalEnergies SE Chief Executive Officer Patrick Pouyanne expressed concerns that a new law aimed at boosting renewable energy development in France may create hurdles for some low-carbon power sources.

“I think the bill may accelerate offshore wind, though I think it will be more complicated for the rest,” he said during an earnings presentation near Paris Tuesday. “I hope that we won’t be banned from doing anything as long as acceleration areas aren’t determined.”

The measure, which empowers local governments to create preferred go-to zones for projects, is aimed at reducing France’s dependence on imported fossil fuels. The country’s energy ...