REG-TotalEnergies SE Offshore Wind: TotalEnergies, Green Investment Group and RIDG Secure ScotWind Leasing Rights to Develop a 2 GW Windfarm in Scotland

TotalEnergies SEAnnouncement

17/01/2022 10:45

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Offshore Wind: TotalEnergies, Green Investment Group and RIDG Secure ScotWind
Leasing Rights to Develop a 2 GW Windfarm in Scotland

 

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.

GIG Contact 

Media Relations: +44 20 3037 4014 | mediaEMEA@macquarie.com
(mailto:mediaEMEA@macquarie.com)

TotalEnergies Contacts 

Media Relations: +33 1 47 44 46 99 l presse@totalenergies.com
(mailto:presse@totalenergies.com) l @TotalEnergiesPress

Investor Relations: +44 (0)207 719 7962 l ir@totalenergies.com
(mailto:ir@totalenergies.com)



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