Total acquires wind power company GWP France

23/03/2020 11:15 Energy

news

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.”

 

https://www.nsenergybusiness.com/ 



Poland's May coal output and sales fall to lowest on record

02/07/2020 09:22:00

Poland generates almost 80 per cent of its electricty from coal but the industry is facing financial problems due to falling demand and rising production costs

<READ MORE

Daily (02.07.2020): EUAs soared briefly above the €28-level on Wednesday, to hit 11-month highs amid speculative buying

02/07/2020 09:26:00

Crude oil futures gained ground on Wednesday amid a massive drawdown in U.S. crude stockpiles, suggesting that demand is improving. However, the surge in new coronavirus cases limited the market’s upside. Hence, Brent crude for September delivery rose by 88 cents, or 2.1%, to settle at 42.03 a barrel. At the same time, U.S. WTI crude gained 55 cents, or 1.4%, to end at $39.82 per barrel.

READ MORE

Statkraft to begin operations at hydropower plant in Albania

02/07/2020 09:16:00

Renewable energy generating company Statkraft announced this week that its Moglice hydropower plant in Albania will began commercial operations, delivering renewable power to the Albanian grid.

READ MORE