As part of its future growth strategy, TotalEnergies is increasing investment in the power sector as it shifts away from oil and gas to ensure profitability. In its outlook report September, it said, "TotalEnergies is replicating its integrated Oil & Gas business model into electricity to achieve a ROACE [return on average capital employed] of ~12 percent, equivalent to upstream Oil & Gas ROACE at 60 $/b [dollars per barrel], above the 'utility' model traditional returns". It declared in that report a target of over 100 terawatt hours of power generation by 2030 with investments of $4 billion a year. "The Company is building a world class cost-competitive portfolio combining renewable (solar, onshore wind, offshore wind) and flexible assets (CCGT, storage) to deliver clean firm power to its customers", TotalEnergies said then.