European energy companies TotalEnergies and Galp have partnered to explore potential offshore wind opportunities in Portugal.
Portugal has one of the highest shares of wind power in its electricity mix.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The country aims to develop 10GW of offshore wind capacity in the coming years, utilising its long coastline, favourable weather conditions and existing industrial infrastructure.
TotalEnergies and Galp will develop offshore wind projects along the country’s coast.
The two companies plan to integrate Galp’s presence and knowledge of the Portuguese market and TotalEnergies’ expertise in offshore wind with 12GW in its global portfolio, leveraging their technical strengths and understanding of energy markets.
TotalEnergies’ offshore wind vice-president Olivier Terneaud stated: “We are delighted with this new partnership with Galp, one of the most relevant players in Iberia, which will contribute to our ambition to install 100GW of global renewable generation capacity by 2030. TotalEnergies is a major player in the energy transition in Europe.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData“Offshore wind energy will strengthen TotalEnergies’ renewable activities in Portugal, where we have a total portfolio of more than 1GW of solar and wind projects in operation or under development.”
In February 2023, TotalEnergies collaborated with Corio Generation, a subsidiary of the Green Investment Group, for the development of the Formosa III offshore wind project in Taiwan.
To be located in Changhua country, the project includes three wind farms: Haiding I, II and III. It is expected to have a capacity of 2GW.
