The acquisition is part of Total’s plans to build a portfolio of low-carbon electricity operations
French oil and gas company Total has acquired a 100% stake in Global Wind Power (GWP) France, expanding its renewable energy capacity in the country.
The company has made the acquisition through Total Quadran, its 100% renewable developer and producer in France.
Total Quadran operates more than 300 renewable energy plants in France totaling over 900MW. The portfolio produces 1,765GWh of renewable electricity annually, which is the equivalent of the annual consumption of nearly 1 million people.
Currently, GWP France has a portfolio of 1GW of onshore wind projects, including 250MW expected to begin operations by 2025.
The acquisition is part of Total’s plans to build a portfolio of low-carbon electricity operations, which could account for 15 to 20% of its sales mix by 2040.
Total gas, renewables and power president Philippe Sauquet said: “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.”
Total’s gross low-carbon power generation capacity stands at 7GW
With the acquisition, Total Quadran will add GWP’s teams to strengthen the Group’s existing expertise in wind power development in France.
Currently, the gross low-carbon power generation capacity of Total is about 7GW, of which more than 3GW comes from renewable energy sources.
Since the beginning of 2020, the company has announced 5GW of solar projects, as part of its efforts to reach its objective of 25GW of installed power generation capacity from renewable sources by 2025.