Energy giant Total will invest $500m a year into renewables according to Chris Billing of Total Gas & Power.
He said the company was well down a path of diversifying from its traditional oil and gas business, which he said was in line with the global power market.
“Last year there was $330bn invested in renewables and 20 per cent of the world’s electricity comes from renewables.”
Speaking at Energy Live 2016 in London, Billing said that the energy sector was firmly in the midst of the 21st century big data revolution.
“Ten years ago the words cloud, app and smart were practically a foreign language. We are now heading towards the convergence of how energy is created and how energy is consumed.
“The internet of energy is becoming a reality.”