en.Wedoany.com Reported - TotalEnergies has submitted an authorization application for its 1.5 GW offshore wind project off the coast of Normandy, France. This is currently the largest renewable energy project in France, with an estimated cost of approximately $5.2 billion.
Eight months after the French government awarded the project to TotalEnergies, the group's wholly-owned project company, Centre Manche Energies, has formally applied for a "single authorization" for the wind farm located about 40 kilometers (25 miles) off the Normandy coast. The application materials cover technical and environmental surveys, the preliminary design of the wind farm, and the planned installation scheme.
TotalEnergies stated that once completed, the project will generate approximately 6 terawatt-hours of electricity annually, enough to supply green power to over one million French households. The company estimates the project investment at around €4.5 billion, with the three-year construction phase expected to employ up to 2,500 people, bringing economic benefits to the local area.
As the European Union leans towards protecting its local clean energy industry from Chinese competition, TotalEnergies plans to focus its procurement on European suppliers, particularly for wind turbines and cables. The project will now enter the permitting process and a government review of the assessments and application. Centre Manche Energies will also simultaneously consult with local officials, environmental organizations, seafarers, and the public to ensure the project integrates into the regional economy and community.
Unlike other European majors such as BP and Shell, which are cutting renewable energy spending, TotalEnergies has been consistently developing its global renewable energy portfolio for years and has set a strategy to achieve a 12% profitability target for its integrated power business. The company typically divests up to 50% of its renewable energy assets after they reach commercial operation date and are de-risked, aiming to "maximize asset value and manage risk."
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