Total, a French multinational integrated oil and gas company, has purchased a 20 percent stake in the 30-megawatt Eolmed floating wind farm pilot project, located off the coast of Gruissan, France, in the Mediterranean Sea.
With the acquisition, Total is looking to strengthen its foothold in the emerging floating offshore wind sector. The group currently owns a 2-gigawatt portfolio in South Korea and the 100-megawatt Erebus project in the United Kingdom.
Under the deal, Total is partnering up with Qair, the developer and majority shareholder of the project.
“Floating offshore wind is a very promising segment in which Total notably brings its extensive experience in offshore projects,” said Julien Pouget, director renewables at Total. “Together with our partner Qair, we have the necessary resources to meet the technological and financial challenges that will determine our future success.”
