The joint venture between TotalEnergies (38.25%) (Paris:TTE)
(LSE:TTE) (NYSE:TTE), Macquarie's Green Investment Group (GIG)
(46.75%) and RIDG (15%), a scottish developer in offshore wind,
successfully secured rights in the N1 area to develop a 2 GW
offshore windfarm project in the ScotWind leasing round. The West
of Orkney Windfarm will be located 30km off the west coast of
Orkney in Scotland.
This project, which aims to start producing renewable power by
2030, represents potentially more than GBPGBP4 billion of
As part of this development, the partners will unlock a GBP140m
initiative to support the development of the local supply chain,
including the enhancement of ports and harbor infrastructure in
Orkney and Caithness. This will ensure high levels of local content
and actively promote employment and innovation in the region.
The consortium has already undertaken extensive site
investigations, especially in relation to the environment, to
ensure that the project fully meets its sustainable development
objectives. The consortium has also finalized a grid connection
agreement with National Grid.
Once built, the windfarm could also deliver renewable power to
the Flotta Hydrogen Hub, a proposed large-scale green hydrogen
production facility in Orkney.
Patrick Pouyanné, Chairman and CEO of TotalEnergies said: "We
are very proud to have been awarded by Crown Estate Scotland the
leasing rights to develop this offshore wind farm, TotalEnergies'
largest renewables project in Europe to date. This project, which
will complement our traditional activities in Scotland, is a
perfect example of the transformation of our Company. We will
provide all our resources from our new UK Offshore Wind Hub in
Aberdeen, which will draw on the expertise and supply chain of our
oil and gas activities and on Scottish industry, all in close
collaboration with the local communities. This project further
demonstrates our commitment to the sustainable development of
offshore wind and will contribute to our goal of reaching 100 GW of
renewable generation capacity by 2030."
The West of Orkney Windfarm is the fourth major offshore wind
project that TotalEnergies has embarked on in the UK since 2020.
The Company now has interests in projects with around 5 GW of
potential capacity under development and construction in the UK.
These projects will come on stream between 2023 and 2030.
Mark Dooley, Global Head of GIG, said: "We have been a long-term
investor in the UK offshore wind sector, with an established
Scottish footprint -- and we are delighted that our commitment to
these markets has been recognized. We believe this option agreement
will be truly transformational for the wider Scottish economy,
unlocking new ways to accelerate the transition to Net Zero and
creating hundreds of green jobs. We look forward to working with
our stakeholders and all the winning bidders to seize this new
opportunity for Scotland."
To date, Macquarie and GIG have supported more than half of UK
offshore wind generation capacity in operation. GIG has invested in
over 30 green energy projects in Scotland, supporting hundreds of
sustainable Scottish jobs.
Mike Hay, RIDG Director, said: "It's fantastic that Crown Estate
Scotland share our vision for the West of Orkney Windfarm, a
project that has been designed specifically around this location to
benefit local communities, transition Scottish workers from oil and
gas into renewables, and to act as a catalyst for supply chain
growth. Since submitting our bid we have continued to advance
development and supply chain activities to ensure that we deliver
on the objectives set out within it, and to maximize the economic
opportunity from the expansion of offshore wind and green hydrogen
About Macquarie's Green Investment Group
Macquarie's Green Investment Group (GIG) is a specialist in
green infrastructure principal investment, project development and
delivery, green impact advisory and the management of portfolio
assets. Its track record, expertise and capability make it a global
leader in green investment and development, dedicated to
accelerating the green transition. In April 2022, GIG will operate
as part of Macquarie Asset Management (MAM). This move will bring
together market leading expertise across the energy transition
spectrum and connect GIG with the capital of the world's largest
investors to accelerate the green transition and deliver a net zero
TotalEnergies and offshore wind
TotalEnergies is already developing a portfolio of offshore wind
projects with a total capacity of more than 6 GW, of which 2/3 are
bottom-fixed and 1/3 are floating. These projects are located in
the United Kingdom (Seagreen project, Outer Dowsing, Erebus), South
Korea (Bada project), Taiwan (Yunlin project), and France (Eolmed
project). The Company has also been qualified to participate in
competitive tenders in the US, UK, France and will also participate
in a tender in Norway.
TotalEnergies and renewable electricity
As part of its ambition to get to net zero by 2050,
TotalEnergies is building a portfolio of activities in renewables
and electricity. At the end of 2021, TotalEnergies' gross renewable
electricity generation capacity is more than 10 GW. TotalEnergies
will continue to expand this business to reach 35 GW of gross
production capacity from renewable sources and storage by 2025, and
then 100 GW by 2030 with the objective of being among the world's
top 5 producers of electricity from wind and solar energy.
TotalEnergies is a broad energy company that produces and
markets energies on a global scale: oil and biofuels, natural gas
and green gases, renewables and electricity. Our 105,000 employees
are committed to energy that is ever more affordable, clean,
reliable and accessible to as many people as possible. Active in
more than 130 countries, TotalEnergies puts sustainable development
in all its dimensions at the heart of its projects and operations
to contribute to the well-being of people.
RIDG -- Renewable Infrastructure Development Group -- was
established as an independent, specialised offshore wind project
development company with the knowledge and experience to identify,
design and deliver high quality consented assets for strategic
partners to build and operate.
RIDG presents a simpler, leaner and more flexible approach to
project development, one that draws upon the strengths of both
established and emerging suppliers to deliver projects safely,
efficiently and cost effectively.
This press release, from which no legal consequences may be
drawn, is for information purposes only. The entities in which
TotalEnergies SE directly or indirectly owns investments are
separate legal entities. In this document, the terms
"TotalEnergies", "TotalEnergies "Company" and "Company" are
sometimes used for convenience. Likewise, the words "we", "us" and
"our" may also be used to refer to subsidiaries in general or to
those who work for them. This document may contain forward-looking
information and statements that are based on a number of economic
data and assumptions made in a given economic, competitive and
regulatory environment. They may prove to be inaccurate in the
future and are subject to a number of risk factors. Neither
TotalEnergies SE nor any of its subsidiaries assumes any obligation
to update publicly any forward-looking information or statement,
objectives or trends contained in this document whether as a result
of new information, future events or otherwise.
Media Relations: +44 20 3037 4014 | mediaEMEA@macquarie.com
Media Relations: +33 1 47 44 46 99 l firstname.lastname@example.org l
Investor Relations: +44 (0)207 719 7962 l
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SOURCE: TotalEnergies SE
Copyright Business Wire 2022
(END) Dow Jones Newswires
January 17, 2022 05:44 ET (10:44 GMT)
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