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March 19, 2020

Total to acquire 80% stake in Erebus floating wind project

Global energy player Total has agreed to purchase an 80% stake in Erebus floating wind project, located in the UK.

Global energy provider Total has agreed to purchase an 80% stake in the Erebus floating wind project, located in the UK.

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In its new low greenhouse gas (GHG) emission strategy to 2050, submitted to the United Nations (UN), the Ministry of Energy Transition and Sustainable Development (MEM) of Morocco suggested to raise the share of renewable capacity in the country’s total power installed capacity mix to 80%.   Morocco currently aims to increase the share of renewables in total power capacity to 52% by 2030. The new strategy plans to increase the share of renewable capacity to 70% by 2040 and 80% by 2050.  GlobalData’s expert analysis delves into the current state and potential growth of the renewable energy market in Morocco. We cover: 
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An agreement has been signed with Simply Blue Energy in relation to the acquisition.

Situated in the Welsh Celtic Sea, the wind project will have a 96MW capacity and will be installed in an area with a 70m water depth.

The new initiative is reported to be part of Total’s strategy to enter floating offshore wind and develop renewable energy.

Total believes that the new floating wind offshore has growth potential in the future.

Total chairman and CEO Patrick Pouyanné said: “With its entry into floating offshore wind, Total confirms its ambition to contribute to the development of renewable energy worldwide.

“Floating offshore wind is an extremely promising and technical segment where Total brings its extensive expertise in offshore operations and maintenance.

“Total has the appropriate skills to meet the technological and financial requirements that determine the success of future floating offshore developments.”

Currently, the company has nearly a 7GW gross low-carbon power generation capacity across the globe.

Earlier this month, Total announced that it will build a battery-based energy storage project in France’s Dunkirk port district.

The battery project will be built with an investment of nearly €15m and will have a 25MWh storage capacity and a 25MW power output.

Scheduled for commissioning later this year, the new lithium-ion energy storage system is claimed to be the largest in France.

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Free Report
img

Delve into the renewable energy prospects for Morocco

In its new low greenhouse gas (GHG) emission strategy to 2050, submitted to the United Nations (UN), the Ministry of Energy Transition and Sustainable Development (MEM) of Morocco suggested to raise the share of renewable capacity in the country’s total power installed capacity mix to 80%.   Morocco currently aims to increase the share of renewables in total power capacity to 52% by 2030. The new strategy plans to increase the share of renewable capacity to 70% by 2040 and 80% by 2050.  GlobalData’s expert analysis delves into the current state and potential growth of the renewable energy market in Morocco. We cover: 
  • The 2020 target compared to what was achieved 
  • The 2030 target and current progress 
  • Energy strategy to 2050 
  • Green hydrogen 
  • Predictions for the way forward  
Download the full report to align your strategies for success and get ahead of the competition.   
by GlobalData
Enter your details here to receive your free Report.

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