TotalEnergies joins Galp for offshore wind in Portugal

Portugal

LISBON, June 22, 2023 – Galp Energia and French energy giant TotalEnergies have agreed to jointly explore the development of offshore wind projects in Portugal, the Portuguese multinational energy company announced on Tuesday.

The partnership will leverage Galp Energia’s strong presence in the market with TotalEnergies’ expertise in offshore wind developments.

Portugal has set a target of developing 10 GW of offshore wind in the coming years.

TotalEnergies was one of the first energy giants to begin development of offshore wind developments and now has a global portfolio of offshore wind assets producing 12 GW.

“We are very pleased with this new partnership with Galp, one of the most relevant players in the Iberian Peninsula, which will contribute to our ambition to install 100 GW of global renewable generation capacity by 2030,” said Olivier Terneaud, vice-president of offshore wind at TotalEnergies.

“Offshore wind energy will bolster TotalEnergies’ renewable activities in Portugal, where we have a total portfolio of more than 1 GW of solar and wind projects in operation or under development.”

According to the Global Wind Energy Council, Portugal has the potential to install 14 GW of fixed wind installations and 117 GW of floating wind assets.

Both companies aim to have net-zero carbon emissions by 2050.

Read our latest insights on:

• Multinational

Previous

Kazakhstan and Germany ink oil trade deal

Next

Iraq opens bid round for 11 oil and gas blocks