French energy giant Total has acquired a 20% shareholding in the Eolmed floating wind farm pilot project, located in the Mediterranean off the coast of Gruissan in France.
Total said it is continuing to reinforce its position in the emerging sector of floating offshore wind, in which it wants to be one of the world leaders. Currently, Total is involved in offshore wind projects in South Korea and UK.
“This announcement once again demonstrates the Group’s ambition and willingness to innovate in the field of renewable energies. Floating offshore wind is a very promising segment in which Total notably brings its extensive experience in offshore projects. Together with our partner Qair, we have the necessary resources to meet the technological and financial challenges that will determine our future success. I am delighted that Total can contribute to the emergence of this new sector in France,” said Julien Pouget, director of renewables of Total.
Total is looking to build a portfolio of activities in electricity, renewable in particular, that could account for up to 40% of its sales by 2050 as part of its ambition to get to net zero by 2050.