Renewables: Total Enters the Floating Offshore Wind Sector in France
October 07 2020 - 2:45AM
Dow Jones News
Regulatory News:
Press Release
Total (Paris:FP) (LSE:TTA) (NYSE:TOT) becomes a 20% shareholder
in the Eolmed floating wind farm pilot project, located in the
Mediterranean, off the coast of Gruissan and near Port-La-Nouvelle
(Occitan region).
Attributed in July 2016, this 30 megawatts (MW) project will
accelerate the development of a floating wind technology. Together
with Qair, the historical developer and majority shareholder of the
project, and its local partners, Total brings its experience in the
conception, deployment and exploitation of offshore installations
throughout their life cycle.
Total is thus continuing to reinforce its position in the
emerging sector of floating offshore wind, in which it wants to be
one of the world leaders. Today, the Group is present in South
Korea with a portfolio of 2 gigawatts and in the United Kingdom
with the 100 MW Erebus project, which has just been granted
exclusive development rights for its area.
Julien Pouget, Director Renewables of Total, stated: "This
announcement once again demonstrates the Group's ambition and
willingness to innovate in the field of renewable energies.
Floating offshore wind is a very promising segment in which Total
notably brings its extensive experience in offshore projects.
Together with our partner Qair, we have the necessary resources to
meet the technological and financial challenges that will determine
our future success. I am delighted that Total can contribute to the
emergence of this new sector in France. "
"The Eolmed project is at the heart of the Occitanie Region's
strategy for the development of renewable energies, actively
supported by local partners. It also demonstrates Qair's ambition
to become a major player in floating offshore wind energy in
Europe. By joining forces with a renowned French industrial partner
for this innovative project developed by our teams since 2016, Qair
is strengthening its technical expertise for the realisation of the
Eolmed project and for future floating wind projects." adds Louis
Blanchard, CEO of Qair.
Total, renewables and electricity
As part of its ambition to get to net zero by 2050,Total is
building a portfolio of activities in electricity, renewable in
particular, that could account for up to 40% of its sales by 2050.
By the end of 2020, Total's gross power generation capacity
worldwide will be around 12 gigawatts, including about 7 gigawatts
of renewable energy. With the objective of reaching 35 GW of
production capacity from renewable sources by 2025, Total will
continue to expand its business to become one of the world leaders
in renewable energies.
About Total
Total is a broad energy company that produces and markets fuels,
natural gas and electricity. Our 100,000 employees are committed to
better energy that is more affordable, more reliable, cleaner and
accessible to as many people as possible. Active in more than 130
countries, our ambition is to become the responsible energy
major.
* * * * *
Cautionary Note
This press release, from which no legal consequences may be
drawn, is for information purposes only. The entities in which
TOTAL SE directly or indirectly owns investments are separate legal
entities. TOTAL SE has no liability for their acts or omissions. In
this document, the terms "Total", "Total Group" and Group 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 TOTAL 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.
View source version on businesswire.com:
https://www.businesswire.com/news/home/20201006006158/en/
CONTACT: Total
Media Relations: +33 1 47 44 46 99 l presse@total.com l
@TotalPress
Investor Relations: +44 (0)207 719 7962 l ir@total.com
SOURCE: TOTAL
Copyright Business Wire 2020
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October 07, 2020 02:30 ET (06:30 GMT)
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