Total Buys Stake in First Floating Wind Project; AGM to Be Held May 29
March 19 2020 - 4:06AM
Dow Jones News
By Mauro Orru
Total SA said Thursday that it has signed an agreement with
developer Simply Blue Energy to buy an 80% stake in the Erebus
floating wind project in the Celtic Sea, U.K.
The French oil major didn't disclose financial details but said
the acquisition marked its foray into floating offshore wind, with
the 96MW project to be installed at a water depth of 70 meters.
Total said its ordinary and extraordinary shareholders' meeting
would be held on May 29, urging shareholders not to physically
attend but to exercise their voting rights by post or through the
internet due to the coronavirus pandemic.
The company said its board of directors would propose mandate
renewals for Patricia Barbizet, Marie-Christine Coisne-Roquette and
Mark Cutifani as directors for period of three years at the
meeting.
The board will also propose the appointment of Jerome Contamine
as director and is considering appointing Ms. Coisne-Roquette as
lead independent director to succeed Ms. Barbizet.
Peugeot SA Chief Executive Carlos Tavares didn't request the
renewal of his mandate as director, Total said.
Total added that the board would submit a request to convert the
company into a European company adopting the SE legal status,
saying it would "reflect more accurately the economic and social
reality of the group and fully recognize its European
dimension."
Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94
(END) Dow Jones Newswires
March 19, 2020 03:51 ET (07:51 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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