The companies have secured the lease for an annual option fee of £83k per MW/year during the development phase
A joint venture between Macquarie’s Green Investment Group (GIG) and Total has secured rights to a seabed lease for a 1.5GW wind project in the Crown Estate’s Offshore Wind Leasing Round 4.
The offshore wind project is planned to be built off the UK’s East Anglian coast.
Total said that the project would support significant employment opportunities and play important role in the UK’s journey towards reaching its net zero target.
Total renewables senior vice president Julien Pouget said: “Total is delighted to have been awarded 1.5 GW as part of the 4th Round of offshore wind leases from The Crown Estate with our partner GIG. We continue to support the energy transition goals of the UK.
“This project is our largest renewables development in Europe to date and an important step toward our 2050 net zero ambition.
“This success builds on our historical expertise in the UK offshore and is paving the way to expansion of our renewable energy offering in the country in line with our strategy of becoming a broad-energy company.”
The companies have secured the lease for an annual option fee of £83k per MW/year, during the development phase.
A Habitat Regulations Assessment (HRA) will be conducted to check if the project poses any possible impact on relevant nature conservation sites in the allotted area.
After successful conclusion of the reassessment process, the final lease agreements are expected to be signed in 2022.
Currently, GIG and Total are working together on joint development of a major portfolio of floating offshore wind projects in South Korea.
In June last year, the French oil major signed an agreement to take a majority stake in the UK’s Seagreen 1 offshore wind project.
Located 27km from the Angus coastline, the Seagreen offshore wind farm has an installed capacity of 1,075MW.
In addition, Total signed an agreement with Simply Blue Energy last year, to acquire 80% stake in Erebus floating wind project in Wales, UK.