REG-TotalEnergies SE Scotland: TotalEnergies Commissions Its Biggest Offshore Wind Farm

TotalEnergies SEAnnouncement

17/10/2023 10:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20231017:nBw1ldCwDa&default-theme=true


Scotland: TotalEnergies Commissions Its Biggest Offshore Wind Farm

 

TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) and its partner SSE Renewables
are pleased to announce that their Seagreen offshore wind farm is now fully
operational and running at its design capacity of 1,075 MW.

Seagreen is a joint venture between TotalEnergies (51%) and SSE Renewables
(49%). It is located in the North Sea, some 27 km off the coast of Angus. It
is TotalEnergies’ biggest operational offshore wind farm worldwide and the
world’s deepest fixed bottom wind farm, with its foundation reaching nearly
60 meters below sea level.

The project, which began construction in June 2020, has been completed in
around 3 years for a global investment of around $4 billion, globally in line
with the expected capex. The development and construction were led, with the
support of TotalEnergies, by SSE which will now operate the offshore wind farm
for its expected 25-year lifetime.

The 1,075 MW offshore wind farm has the capacity to generate around 5 terawatt
hours (TWh), or enough renewable electricity to power almost 1.6 million homes
annually, equivalent to two-thirds of all Scottish homes. Seagreen will also
prevent the emission of over 2 million tons of CO(2 )from fossil fuel
electricity generation every year.

Consistently with its business model, TotalEnergies will commercialize,
through Seagreen, its share of production through a mix of a long-term
contract at guaranteed price, including a 15-year CfD (Contract for
Difference) awarded by the UK Government, and a 15-year private CfD with the
SSE Group, and short-term sales on the wholesale market.

« I am very pleased to see Seagreen generating at full power, making it
TotalEnergies’ biggest offshore wind farm worldwide. This 1 GW project is a
new step in delivering our strategy of building a world-class,
cost-competitive portfolio of renewable energy to deliver clean, reliable and
affordable power to our customers. It will positively contribute to achieving
our Integrated Power 12% profitability target and our objective of reaching
more than 100 TWh of power generation by 2030, » said Patrick Pouyanné,
Chairman and CEO of TotalEnergies. « Our participation in the project
alongside SSE has enabled us to strengthen our offshore wind expertise which
will be extremely useful for our future projects in the United Kingdom, the
United-States and Germany. It's also very good news for Scotland, as Seagreen
makes a significant contribution to the country’s net zero ambition for
2045. »

« The Seagreen offshore windfarm is a fantastic example of the work being
done to unleash Scotland’s renewable potential, as we seek to lead the world
in the transition to net zero, » said the First Minister of Scotland, Humza
Yousaf. « This significant milestone for Seagreen is also significant for
Scotland, taking us a step closer to creating a net zero energy system that
delivers affordable, secure and clean energy. Delivering on our climate
obligations is an absolute priority for the Scottish Government – so too is
our unwavering commitment to a just transition for workers. We are determined
to maximize the economic opportunity Scotland’s offshore wind potential
presents, by developing local supply chains, embedding innovation, boosting
skills, creating jobs, and benefiting people and communities. »

« This is a big milestone for Seagreen and for Scotland. It shows that this
country not only has world-class renewable resources but also world-class
teams able to deliver major clean energy projects at scale. Seagreen’s
ability to power up to 1.6 million homes will make a significant contribution
to energy security and extend Scotland and the UK’s leadership in clean
energy generation, » said Alistair Phillips-Davies, Chief Executive of SSE
plc. « But if we are to fully realise this country’s potential we need many
more Seagreens and we look forward to working with governments, partners,
investors and local communities to bring more landmark projects like this
forward in the future. »

***

TotalEnergies and offshore wind

TotalEnergies’ portfolio in offshore wind has a total capacity of more than
13 GW, with most farms bottom-fixed. These projects are located in the United
Kingdom (Seagreen, Outer Dowsing, West of Orkney, Erebus), South Korea (Bada),
Taiwan (Yunlin, Haiding 2), France (Eolmed), the United States (Attentive
Energy and North Carolina), and Germany (N-12.1 and 0-2.2). The Company has
also been qualified to participate in competitive tenders in the US, UK, and
France, and will participate in tenders in Norway and Poland.

TotalEnergies and electricity

As part of its ambition to get to net zero by 2050, TotalEnergies is building
a world class cost-competitive portfolio combining renewables (solar, onshore
and offshore wind) and flexible assets (CCGT, storage) to deliver clean firm
power to its customers. In 2022, TotalEnergies generated more than 33 TWh of
electricity, and had a gross renewable electricity generation installed
capacity of 17 GW. TotalEnergies will continue to expand this business to grow
its power generation to more than 100 TWh 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 global multi-energy company that produces and markets
energies: oil and biofuels, natural gas and green gases, renewables and
electricity. Our more than 100,000 employees are committed to energy that is
ever more affordable, cleaner, more reliable and accessible to as many people
as possible. Active in nearly 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.

@TotalEnergies
(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Ftwitter.com%2FTotalEnergies&esheet=53620641&newsitemid=20231017610192&lan=en-US&anchor=%40TotalEnergies&index=1&md5=17e92344968ac1191ab34c0f33b0f818)
l TotalEnergies
(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.linkedin.com%2Fcompany%2Ftotalenergies%2F&esheet=53620641&newsitemid=20231017610192&lan=en-US&anchor=TotalEnergies&index=2&md5=3a6435c2c611256257bbdc170161871e)
l TotalEnergies
(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.facebook.com%2FTotalEnergiesFrance%2F&esheet=53620641&newsitemid=20231017610192&lan=en-US&anchor=TotalEnergies&index=3&md5=f1bf20314f6f719f327bccd165cadd46)
l TotalEnergies
(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.instagram.com%2Ftotalenergies%2F&esheet=53620641&newsitemid=20231017610192&lan=en-US&anchor=TotalEnergies&index=4&md5=d4ca33c1bcca6240ca135562b65a5818)

Cautionary Note

The terms “TotalEnergies”, “TotalEnergies company” or “Company” in
this document are used to designate TotalEnergies SE and the consolidated
entities that are directly or indirectly controlled by TotalEnergies SE.
Likewise, the words “we”, “us” and “our” may also be used to refer
to these entities or to their employees. The entities in which TotalEnergies
SE directly or indirectly owns a shareholding are separate legal entities.
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. Information concerning risk factors, that may affect
TotalEnergies’ financial results or activities is provided in the most
recent Universal Registration Document, the French-language version of which
is filed by TotalEnergies SE with the French securities regulator Autorité
des Marchés Financiers (AMF), and in the Form 20-F filed with the United
States Securities and Exchange Commission (SEC).

TotalEnergies Contacts 

Media Relations: +33 (0)1 47 44 46 99 l presse@totalenergies.com
(mailto:presse@totalenergies.com) l @TotalEnergiesPR 
(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Ftwitter.com%2FTotalEnergiesPR&esheet=53620641&newsitemid=20231017610192&lan=en-US&anchor=%40TotalEnergiesPR&index=5&md5=ea558d26adfc199429b80b57238f5b0d)

Investor Relations: +33 (0)1 47 44 46 46 l ir@totalenergies.com
(mailto:ir@totalenergies.com)



View source version on businesswire.com:
https://www.businesswire.com/news/home/20231017610192/en/
(https://www.businesswire.com/news/home/20231017610192/en/)

TotalEnergies


Copyright Business Wire 2023