Total (Paris: FP) (LSE: TTA) (NYSE: TOT) becomes a 20% shareholder of the Eolmed floating wind farm pilot project, located in the Mediterranean, off Gruissan and near Port-La-Nouvelle (Occitan region).
Awarded in July 2016, this 30 megawatt (MW) project will accelerate the development of floating wind technology. With Qair, the historical developer and majority shareholder of the project, and its local partners, Total brings its experience in the design, deployment and operation of offshore installations throughout their life cycle.
Total is thus continuing to strengthen its position in the emerging offshore floating wind sector, in which it wants to be one of the world leaders. Today, the Group is present in South Korea with a 2 gigawatt portfolio and in the United Kingdom with the 100 MW Erebus project which has just been granted exclusive development rights in its area.
Julien Pouget, Director of Renewables at Total, said: « This announcement once again demonstrates the Group’s ambition and willingness to innovate in the field of renewable energies. Floating offshore wind power is a very promising segment in which Total brings in particular its extensive experience in offshore projects. Together with our partner Qair, we have the resources to meet the technological and financial challenges that will determine our future success. I am delighted that Total can contribute to the emergence of this new sector in France. »
“The Eolmed project is at the heart of the Occitanie Region’s strategy for the development of renewable energies, actively supported by local partners. It also demonstrates Qair’s ambition to become a major player in offshore floating wind power in Europe. By joining forces with a renowned French industrial partner for this innovative project developed by our teams since 2016, Qair is strengthening its technical expertise for the realization of the Eolmed project and for future floating wind projects. adds Louis Blanchard, CEO of Qair.
Total, renewable energies and electricity
As part of its ambition to reach net zero by 2050, Total is building a portfolio of activities in electricity, notably renewable, which could represent up to 40% of its turnover by 2050. By the end of 2020, the gross power of Total’s global production capacity will be around 12 gigawatts, of which around 7 gigawatts of renewable energy. With the objective of reaching 35 GW of production capacity from renewable sources by 2025, Total will continue to develop its activity to become one of the world leaders in renewable energies.
Total is a large energy company that produces and markets fuels, natural gas and electricity. Our 100,000 employees are committed to better energy, more affordable, more reliable, cleaner and accessible to as many people as possible. Active in more than 130 countries, our ambition is to become the responsible energy major.
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