Renewables: Total Expands in Wind Power in France with the acquisition of Global Power Wind France
20 March 2020 - 6:20PM
Business Wire
Regulatory News:
Total (Paris:FP) (LSE:TTA) (NYSE:TOT) continues its growth in
renewable energy in France with a substantial investment in wind
power.
Total, through Total Quadran - its 100% renewable developer and
producer in France, acquires 100% of Global Wind Power (GWP)
France, a company with a 1000-megawatt (MW) portfolio of onshore
wind projects, including 250 MW scheduled to come on stream by
2025.
“Following Vents d’Oc’ acquisition in 2019, this new investment
demonstrates Total’s commitment to expand in all types of renewable
energy while contributing to France's energy transition goals. It
strengthens Total Quadran’s footprint adding to its existing
portfolio of nearly 1000 MW of installed and operated capacity,
including over 500 MW of onshore wind and confirms its ambition to
be one of the main players on France’s renewables market,” said
Philippe Sauquet, President Gas, Renewables and Power at Total.
GWP’s teams will join Total Quadran, adding to the Group’s
existing expertise in order to speed up the wind power development
in France.
Total and Low-Carbon Electricity
As part of its ambition to become the responsible energy major,
Total is building a portfolio of low-carbon electricity operations,
with the objective of seeing them account for 15 to 20% of its
sales mix by 2040. Today, Total’s gross low-carbon power generation
capacity is close to 7 gigawatts, of which more than 3 gigawatts
from renewable energy sources.
With over 5 GW of solar projects announced since the beginning
of 2020, the Group is well on track to reach its objective of 25 GW
of installed power generation capacity from renewable sources by
2025.
About Total Quadran
Total Quadran, a pioneer of renewable energies with a strong
footprint in France and its overseas territories, develops, builds
and operates renewable electricity generation resources (wind,
photovoltaic, hydro and biogas). Total Quadran operates over 300
renewable energy plants in France totaling over 900 MW, which
generate 1 765 GWh of renewable electricity per year. This is the
equivalent of the annual consumption of nearly 1 million people and
annual savings of nearly 590,000 tons of CO2 emissions.
About Total
Total is a major energy player that produces and markets fuels,
natural gas and low-carbon electricity. Our 100,000 employees are
committed to better energy that is safer, more affordable, cleaner
and accessible to as many people as possible. Active in more than
130 countries, our ambition is to become the responsible energy
major.
* * * * *
Cautionary note
This press release, from which no legal consequences may be
drawn, is for information purposes only. The entities in which
TOTAL S.A. directly or indirectly owns investments are separate
legal entities. TOTAL S.A. has no liability for their acts or
omissions. In this document, the terms “Total”, “Total Group” and
Group are sometimes used for convenience. Likewise, the words “we”,
“us” and “our” may also be used to refer to subsidiaries in general
or to those who work for them.
This document may contain forward-looking information and
statements that are based on a number of economic data and
assumptions made in a given economic, competitive and regulatory
environment. They may prove to be inaccurate in the future and are
subject to a number of risk factors. Neither TOTAL S.A. nor any of
its subsidiaries assumes any obligation to update publicly any
forward-looking information or statement, objectives or trends
contained in this document whether as a result of new information,
future events or otherwise.
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Total Media Relations: +33 1 47 44 46 99 l
presse@total.com l @TotalPress Investor Relations: +44 (0)207 719
7962 l ir@total.com
Total Quadran Elodie Billerey (Media Relations) | +33 4
67 32 63 35 | elodie.billerey@total-quadran.com
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