France, Normandy: TotalEnergies has submitted an application for Single Authorisation for France’s largest renewables project, a 1.5 GW offshore wind farm off the coast of Normandy. The scheme is being developed through Centre Manche Energies, the company’s wholly-owned project unit, and will be located around 40 km offshore. The estimated investment stands at $5.2 B (€4.5 B).
Once completed, the wind farm is expected to produce around 6 TWh of electricity annually, enough to supply more than one million French households, according to TotalEnergies.
Construction is projected to last three years and could create up to 2,500 jobs, bringing notable economic activity to the Normandy region. The company also intends to prioritise European suppliers, particularly for wind turbines and subsea cables, as the European Union seeks to strengthen its domestic clean energy supply chain and reduce reliance on external producers.
The next stage of development will involve regulatory permitting and government assessment, alongside ongoing consultation with local authorities, environmental organisations, maritime stakeholders and the wider public to ensure the project fits well within the region.
Unlike some rivals such as BP and Shell, which have reduced spending on renewables, TotalEnergies continues to expand its global clean energy portfolio. It targets a 12 % profitability level for its Integrated Power business and typically sells down up to 50 % of renewable assets once they reach commercial operation and are de-risked, in order to optimise returns and manage risk.
Source: Oil Price
