Total buys 80% share in UK floating wind offshore project

Total buys 80% share in UK floating wind offshore project


French oil major Total said Thursday it will purchase a 80% stake in the Erebus project – a floating wind farm located in the Celtic Sea, in Wales.

The agreement with developer Simply Blue Energy will set Total as one of the first movers in this technology in the UK, which is the world’s largest offshore wind market, Total said. The project will produce 96 megawatts of electricity and be installed in an area with water depth of 70 meters.

“Floating offshore wind is an extremely promising and technical segment where Total brings its extensive expertise in offshore operations and maintenance,” said Total’s CEO Patrick Pouyanne.

He said the company has the appropriate skills to meet the technological and financial requirements that determine the success of future floating offshore developments. The emerging technology has wide potential, opening access to sites further offshore, not only the shallow water areas targeted by offshore wind.

Total didn’t disclose financial details of the acquisition, nor when it plans to commission the project. The company plans to spend $2 billion annually to expand its low-carbon business, which currently has capacity to produce 7 gigawatts of power.

Source: Kallanish Energy

Published: 20-03-2020

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