The British offshore wind farm is developing with the sale, in particular, of seabed concessions owned by the Crown. French energy company Total and investment fund Green Investment Group (GIG) have won one of the six Crown Estate projects. The UK is encouraging investment in wind power to meet its energy transition targets.
An offshore wind farm on royal land
1.5 GW of wind power off the coast of East Anglia
The offshore wind farm planned by Total and GIG should be located off the coast of East Anglia. It should develop 1.5 GW of power.
In order to obtain the concession, the two companies will have to ensure that their project will have little impact on the environment. The final signing could take place in 2022.
Meet the objectives of both companies
For Total, this new acquisition is in line with its objectives. Indeed, the oil company wishes to continue its efforts in the energy transition. It aims to achieve carbon neutrality and 40% renewable energy in its energy mix by 2050. In the United Kingdom, it has already invested in other projects such as Seagreen (1.1GW) and Erebus.
For its part, GIG is considered one of the largest European investors in clean energy. In offshore wind, it already has 13 GW of installed capacity worldwide.
The United Kingdom, an attractive territory for companies
8 GW distributed among 5 European companies
At the last Crown Estate auction, other companies were able to acquire concessions. Among these, the British company BP, in close collaboration with the German EnBW, has acquired two sites for a total of 3 GW. Finally, the German conglomerate RWE, Europe’s third largest renewable energy developer, has been awarded 3 GW.
In all, 8 GW of electricity could be produced to supply more than 7 million homes. At the environmental level, 12.5 million CO2 per year will be avoided.
68% reduction in greenhouse gases
Under the leadership of Boris Johnson, the British are setting ambitious targets. They want to reduce their greenhouse gas emissions by 68% in order to achieve carbon neutrality by 2050. To achieve this, wind power will have to account for one third of electricity production by 2030.
Thus, the country aspires to be a reference in this field, an ambition that it will not hesitate to display during the COP26. The latter is also planned in Glasgow for this year.
In short, companies find the United Kingdom an ideal place for their investments in line with their environmental commitments.