Regulatory News:
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 CO2 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.
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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).
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