French oil and gas firm, Total has signed an agreement with Simply Blue Energy, a renewable energy developer, to acquire 80% stake in Erebus floating wind project in Wales, UK.
The financial details of the transaction are not disclosed.
Total and Simply Blue Energy have formed a joint venture named Blue Gem Wind to develop floating wind sites in the Welsh waters of the Celtic Sea.
The Erebus project will be built in an area a water depth of 70 meters
To be located in the Celtic Sea, in Wales, the project will have 96MW of capacity and will be built in an area with a water depth of 70 meters.
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 & maintenance.
“Total has the appropriate skills to meet the technological and financial requirements that determine the success of future floating offshore developments.”
For the construction of the wind project, Blue Gem Wind has opened a new office in Pembroke.
The stake acquisition in the Erebus project is part of Total’s efforts to build a portfolio of low-carbon businesses that could account for 15 to 20% of its sales by 2040.
With a storage capacity of 25MWh and output of 25MW of power, the new lithium-ion energy storage system is said to become the largest in France.
Scheduled for commissioning in late 2020, the new battery-based storage system will comprise 11 integrated 2.3MWh containers which are designed by French battery maker Saft at its production site in Bordeaux.
