Regulatory News:
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 GBP£4 billion of
investment.
As part of this development, the partners will unlock a £140m
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
in Scotland.”
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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 future.
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.
About TotalEnergies 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.
About RIDG 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.
Cautionary Note 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.
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GIG Contact Media Relations: +44 20 3037 4014 |
mediaEMEA@macquarie.com
TotalEnergies Contacts Media Relations: +33 1 47 44 46 99
l presse@totalenergies.com l @TotalEnergiesPress Investor
Relations: +44 (0)207 719 7962 l ir@totalenergies.com
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