Scotland

TotalEnergies and ScotWind Partners Commit to Local Industrial Development

Regulatory News:

Patrick Pouyanné, Chairman and CEO of TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE), has opened today the company’s UK Offshore Wind Hub in Aberdeen. The Hub will be part of the Company’s existing offshore operations centre in Aberdeen. The Hub will enable the transition of staff from oil and gas to offshore wind as that part of the Company’s UK business grows. It will thus leverage the offshore expertise that TotalEnergies’ Aberdeen operations have built over the last 50 years.

“Investing in energy projects in Scotland and the North Sea has been at the heart of TotalEnergies’ history. I am proud of the success of our partnership with Scotland and of our joint achievements, in particular the development of the offshore industry. With the energy transition gathering speed, we see Scotland as a great place to broaden our relationship by investing in offshore wind. As a global multi energy company long engaged in UK energy supply, our decision to base our UK Offshore Wind Hub here in Aberdeen is a mark of our confidence in the future of renewables in the UK and our continued commitment to Scotland and the North Sea.” said Patrick Pouyanné, Chairman and CEO of TotalEnergies

£140 million investment in Scottish industry

The announcement comes as TotalEnergies, in partnership with Macquarie’s Green Investment Group and Scottish developer Renewable Infrastructure Development Group (RIDG), take part in the ScotWind leasing round having proposed a 2 GW offshore wind project called “West of Orkney Windfarm”.

The partners unveiled plans for a £140 million initiative in a comprehensive action plan to develop the Scottish supply chain and harbour infrastructure specifically around this project. Should the West of Orkney Windfarm be selected, the investment would be allocated across a range of initiatives, including:

• Direct support for supplier development and the enhancement of ports and harbour infrastructure in Orkney, Caithness, and more generally in Scotland,
• A Supply Chain and Infrastructure Investment Fund to enhance the capabilities and competitiveness of key suppliers,
• A targeted local skills development programme.

This investment will be made during the initial phase of development, before the final investment decision is taken. It will be funded by £105m of direct commitments from the partners supplemented up to £140m by a matched funding from third parties raised by the partners.