The wind energy leader Total has announced an agreement with SSE Renewables, to acquire a 51% stake in the Seagreen 1 offshore wind farm project in Scottish waters of UK North Sea.
- The offshore wind farm project designed to cover the energy needs of around 1 million homes, the project will start producing renewable electricity from end of 2022.
- Once completed, it will be Scotlands largest offshore wind farm. The project represents a global investment of around 3.7 B$. Total has secured close to 70% of external financing for its 51% stake.
- The purchase agreement also covers a potential extension opportunity of up to 360 MW.
- Located 27 kilometers from the coastline in Scottish waters of UK North Sea, Seagreen 1 has secured all necessary major permits and onshore construction began in Q1 2020.
In May 2020: The leading oil and gas company Qatar Petroleum announced a farm-in agreement with Total to acquire a 45% participating interest in blocks CI-705 and CI-706, located in the Ivorian-Tano basin, offshore the Republic of Côte d’Ivoire.
In April 2020: France based leading energy player TOTAL S.A announced that its step-down subsidiary has invested approximately $486 million for 50% partnership with Adani Green Energy Limited (AGEL) in a Joint Venture (JV) in India. The JV houses 2.148 GW operating solar projects across 11 states in India.
Total is a global energy player, based in France. Total produces and markets fuels, natural gas and low-carbon electricity. Totals 100,000 employees are committed to better energy that is safer, more affordable, cleaner and accessible to as many people as possible. Total is active in more than 130 countries.