TotalEnergies has signed an settlement with Thailand’s nationwide oil and gasoline firm, PTTEP, to promote a 25.5% fairness stake within the Seagreen offshore wind farm for $689 million.
The undertaking has a complete capability of 1,075 MW, is comprised of 114 generators and has been fullly operational since October. The farm can present sufficient electrical energy to energy greater than 1.6 million houses, says TotalEnergies.
The 2 corporations have additionally signed a MOU to discover joint future growth alternatives in renewable vitality growth.
“After a protracted historical past of partnership in gasoline manufacturing in Thailand, we’re delighted to welcome PTTEP as a shareholder companion within the Seagreen offshore wind farm alongside SSE, which marks a primary step in our collaboration with PTTEP in renewable energies,” says Patrick Pouyanné, TotalEnergies chairman and CEO. “This transaction is a brand new milestone within the implementation of our transition technique and can contribute to reaching our 12% profitability goal in Built-in Energy enterprise.”
“PTTEP can be very delighted to increase its partnership and collaboration with TotalEnergies in offshore wind in addition to different potential renewable vitality to foster mutual enterprise progress sooner or later,” provides Montri Rawanchaikul, CEO of PTTEP. “The success additionally marks a major step for PTTEP in diversifying into the high-growth potential clear vitality sector for a sustainable future.”
Following this deal,TotalEnergies is ready to retain 25.5% of Seagreen, alongside PTTEP’s 25.5% and SSE Renewables’ 49% stakes.
