REG-TotalEnergies SE Floating Offshore Wind, United States: TotalEnergies and Simply Blue Group Launch TotalEnergies SBE US Joint Venture

TotalEnergies SEAnnouncement

13/10/2021 14:35

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Floating Offshore Wind, United States: TotalEnergies and Simply Blue Group
Launch TotalEnergies SBE US Joint Venture

 

TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE), a global multi-energy company,
and Simply Blue Group, a pioneer in floating offshore wind, launched a joint
venture, TotalEnergies SBE US, to unlock the vast potential for floating
offshore wind projects in the United States.

TotalEnergies SBE US will combine TotalEnergies’ expertise in large-scale
offshore projects, Simply Blue Group’s floating know-how, and a team of
pioneers of the U.S. offshore wind industry, to unlock untapped deep-water
opportunities that will provide renewable electricity to millions of U.S.
homes.

“Our ambition is to install 100 gigawatts of global renewable power
generation by 2030, part of which will come from floating offshore wind
projects. We are eager to see this partnership with Simply Blue help our
Company meet this goal,” said Stéphane Michel, President, Gas, Renewables
& Power at TotalEnergies. “We are convinced of the large potential of
floating offshore wind to provide U.S. coasts with renewable electricity, and
are committed to contribute our extensive expertise in offshore projects to
make it happen.”

“The future and next frontier of U.S. offshore wind is floating. This joint
venture with TotalEnergies has everything we need to deliver floating offshore
wind on America’s coasts,” said Sam Roch-Perks, CEO, Simply Blue.
“Almost two-thirds of U.S. offshore wind resources are found in deeper
waters that require floating wind platforms. TotalEnergies SBE US brings
together the scale, expertise, and international track record to responsibly
develop floating offshore wind power on all of America's coasts.”

“Offshore wind has arrived. To bring its full benefits to market, we need to
go big and go deep,” said Stephanie McClellan, Ph.D., Chief of Strategy
& Policy, TotalEnergies SBE US and founder, Special Initiative on Offshore
Wind. “TotalEnergies SBE US will accelerate development of U.S. floating
wind, and help states and the federal government meet their clean power
goals."

Today, TotalEnergies has over 6 GW of offshore wind in development around the
globe, of which over 40% is comprised of floating offshore wind including over
2 GW of floating wind projects in South Korea. Simply Blue Group has more than
3.2 GW of offshore wind in development off Ireland and the UK.

***

About the U.S. offshore wind market

In March 2021, the Biden Administration set a 30 GW goal
(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.whitehouse.gov%2Fbriefing-room%2Fstatements-releases%2F2021%2F03%2F29%2Ffact-sheet-biden-administration-jumpstarts-offshore-wind-energy-projects-to-create-jobs%2F&esheet=52508398&newsitemid=20211013005728&lan=en-US&anchor=30+GW+goal&index=1&md5=953741fd5285b2074547049a02e44139)
for U.S. offshore wind by 2030. Deep waters off the coasts of California,
(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fstatic1.squarespace.com%2Fstatic%2F5d87dc688ef6cb38a6767f97%2Ft%2F60afe2b10875fe654360404e%2F1622139569766%2FOWC%2BRelease%2B-%2BOWC%2BApplauds%2BBiden%2BAdmin%2Bfor%2BClearing%2BWay%2Bon%2BOSW%2Bfor%2BCA%2B5-25-21%2BFINAL.pdf&esheet=52508398&newsitemid=20211013005728&lan=en-US&anchor=California%2C&index=2&md5=7071fce283101195df29c29f3bf9c6e6)
Oregon
(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.maritime-executive.com%2Farticle%2Foregon-bill-targets-three-gw-of-floating-offshore-wind-by-2030&esheet=52508398&newsitemid=20211013005728&lan=en-US&anchor=Oregon&index=3&md5=a955c19bdb22ec0e9dacdcd7728260e6)
, Hawaii
(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.nrel.gov%2Fdocs%2Ffy16osti%2F65481.pdf&esheet=52508398&newsitemid=20211013005728&lan=en-US&anchor=Hawaii&index=4&md5=36b32f625145f979cb298149acea7c2a)
, Gulf Coast
(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.offshorewindus.org%2F2021%2F06%2F08%2Ffloating-offshore-wind-policy-brief-outlines-opportunity-for-u-s-clean-energy-leadership%2F&esheet=52508398&newsitemid=20211013005728&lan=en-US&anchor=Gulf+Coast&index=5&md5=80e69f8aa6be82f6f76c0817a68b9ff1)
, and the East Coast
(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.offshorewindus.org%2F2021%2F06%2F08%2Ffloating-offshore-wind-policy-brief-outlines-opportunity-for-u-s-clean-energy-leadership%2F&esheet=52508398&newsitemid=20211013005728&lan=en-US&anchor=East+Coast&index=6&md5=2907150ed4b9c31db3015ef490291c5f)
hold as much as 35 GW of development potential by 2040. Along with enabling
access to deep-water sites, floating wind offers additional advantages
(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fsimplyblueenergy.com%2Ffloating-wind%2F&esheet=52508398&newsitemid=20211013005728&lan=en-US&anchor=advantages&index=7&md5=77a75558edc67ca6563e54e0f5a44f80)
: the winds are stronger and more stable away from the coast, which allows for
higher yields, and the wind turbines are out of view from the coast. The
global pipeline of floating offshore wind projects more than tripled in 2020
alone to exceed 25 GW, according to the U.S. Department of Energy, with
floating wind costs decreasing rapidly. For the United States, the National
Renewable Energy Laboratory reports some 60%
(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.nrel.gov%2Fnews%2Fprogram%2F2020%2Ffloating-offshore-wind-rises.html&esheet=52508398&newsitemid=20211013005728&lan=en-US&anchor=some+60%25&index=8&md5=7a6d091ba61d05f6ecc5c2ca2a63c503)
of viable offshore wind resources can only be tapped using floating
technologies.

TotalEnergies, renewables and electricity

As part of its ambition to get to net zero by 2050, TotalEnergies is building
a portfolio of activities in renewables and electricity that should account
for up to 40% of its sales by 2050. At the end of 2020, TotalEnergies’ gross
power generation capacity worldwide was around 12 GW, including 7 GW of
renewable energy. TotalEnergies will continue to expand this business to reach
35 GW of gross production capacity from renewable sources by 2025, and then
100 GW by 2030 with the objective of being among the world's top 5 in
renewable energies.

About TotalEnergies

TotalEnergies is a global multi-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.

Twitter: @TotalEnergies
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About TotalEnergies SBE US

TotalEnergies SBE US is a joint venture of TotalEnergies and Simply Blue Group
dedicated to developing and delivering floating offshore wind power to U.S.
coasts. TotalEnergies SBE US is a team of experienced American developers
directly connected to states and local communities, who are committed to grow
floating offshore wind across the United States with the support of
TotalEnergies, a global multi-energy company with a diverse portfolio of
renewable assets.

About Simply Blue Group

Simply Blue Group, headquartered in Cork, Ireland, is a leading blue economy
developer focused on replacing fossil fuels with clean ocean energy. It
develops pioneering blue economy projects – floating offshore wind, wave
energy and low-impact aquaculture – all in harmony with the oceans. The
company has a pipeline of over 9 GW of floating offshore wind projects,
primarily in the waters off Ireland and the UK. Simply Blue is committed to
creating new economic opportunities for coastal communities, and developing
projects that co-exist with sustainable fisheries and marine conservation. For
more, go to: https://simplybluegroup.com
(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fsimplybluegroup.com&esheet=52508398&newsitemid=20211013005728&lan=en-US&anchor=https%3A%2F%2Fsimplybluegroup.com&index=13&md5=cbd1fbac4117e26ad0046f95ecd82aab)
and http://www.simplybluegroup.com/USA
(https://cts.businesswire.com/ct/CT?id=smartlink&url=http%3A%2F%2Fwww.simplybluegroup.com%2FUSA&esheet=52508398&newsitemid=20211013005728&lan=en-US&anchor=http%3A%2F%2Fwww.simplybluegroup.com%2FUSA&index=14&md5=ac51e15fd02a241159faf9e82f8b5a57)
. On Twitter @SimplyBlueUS.

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. TotalEnergies SE has
no liability for their acts or omissions. The terms “Company” or
“TotalEnergies company” refer collectively to the company TotalEnergies SE
and the companies it controls directly or indirectly. Such terms are used
solely for the sake of convenience for purposes of the present communication.
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.

Simply Blue Contacts 

Garth Neuffer, gneuffer@hotmail.com (mailto:gneuffer@hotmail.com) ,
215-840-3692

Stephanie McClellan, steph.mcclellan@simplybluegroup.com
(mailto:steph.mcclellan@simplybluegroup.com) , 302-943-8264

TotalEnergies Contacts 

Media Relations: +33 1 47 44 46 99 l presse@totalenergies.com
(mailto:presse@totalenergies.com) l @TotalEnergiesPR 
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Investor Relations: +44 (0) 207 719 7962 l ir@totalenergies.com
(mailto:ir@totalenergies.com)



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