France UK – 08/02/2021 – A 50/50 joint venture between Macquarie’s Green Investment Group (GIG) and Total has been successful in securing rights to a seabed lease in the Eastern Regions zone in the Crown Estate’s Offshore Wind Leasing Round 4.
The project, which will be located off the UK’s East Anglian coast, could deliver up to 1.5 gigawatts (GW) of renewable electricity and represents a significant early stage investment in the UK offshore wind sector for both companies.
It will also:
- Support significant employment opportunities and play a critical role in helping the UK meet its ambitious net zero target.
- Enable the two partners to expand in the UK, which is Europe’s most mature market for offshore wind and provides steady growth perspectives and a clear route-to-market.
Both GIG and Total are global renewable energy developers and investors and bring significant expertise, technical capability, and a track record in successful energy development to the project. GIG has supported almost 50% of the UK’s offshore wind capacity in operation. Total continues to build up a strong position in offshore wind after its involvement in the 1.1 GW Seagreen project off the east coast of Scotland and in Erebus, a 96 MW floating offshore wind project in the Celtic Sea, leveraging its long standing industrial activity in the UK.
GIG and Total are currently partnering in South Korea to co-develop a major portfolio of floating offshore wind projects.
“Total is delighted to have been awarded 1.5 GW as part of the 4th Round of offshore wind leases from The Crown Estate with our partner GIG. We continue to support the energy transition goals of the UK. This project is our largest renewables development in Europe to date and an important step toward our 2050 net zero ambition”, said Julien Pouget, Senior Vice President Renewables at Total.
“This success builds on our historical expertise in the UK offshore and is paving the way to expansion of our renewable energy offering in the country in line with our strategy of becoming a broad-energy company”.
Source : Total
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