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Seagreen is a joint venture between TotalEnergies (51%) and SSE Renewables (49%) and is TotalEnergies’ biggest operational offshore wind farm out of its offshore wind portfolio of more than 13 gigawatts (GW). With a foundation reaching almost 60 m below sea level, Seagreen is the deepest fixed bottom wind farm in the world.
Seagreen’s development and construction was led by SSE and began in June 2020, with approximately $4 billion invested since. SSE will now operate the offshore wind farm for its expected 25-year lifetime.
TotalEnergies will commercialize its share of Seagreen production through a mix of a long-term contracts at guaranteed price, including a 15-year contract for difference awarded by the U.K. government, a 15-year private contract for difference with the SSE Group and short-term sales on the whole sale market.
The wind farm can generate 5 terawatt hours—enough electricity to power 1.6 million homes in Scotland annually, according to the company.
“Our participation in the project alongside SSE has enabled us to strengthen our offshore wind expertise which will be extremely useful for our future projects in the United Kingdom, the United States and Germany,” said Patrick Pouyanné, chairman and CEO of TotalEnergies. “It's also very good news for Scotland, as Seagreen makes a significant contribution to the country’s net zero ambition for 2045.”
2024-01-17 - Seeking to shore up environmental support during an election year, President Joe Biden’s administration is weighing a tougher test for LNG export facilities.
2024-02-13 - Industry leaders worry that the DOE’s suspension of approvals for LNG projects will persuade global customers to seek other suppliers, wreaking havoc on energy security.
2024-01-30 - Recent moves by U.S. President Joe Biden targeting the country’s LNG industry, which has a number of projects in the works, are an attempt to satisfy environmentalists ahead of the next upcoming presidential election.
2024-01-11 - Expect energy policy to be a dominant theme in the 2024 elections.
2024-01-29 - The FERC—which has jurisdiction over the siting, construction and operation of LNG export facilities in the U.S.—reported that 18 projects worth 32 Bcf/d of export capacity have obtained approval but are yet to be built.