Energy & Science
Oil Major Total Shifts to Clean Energy With U.K. Wind Farm Stake
- Total paid $88 million for 51% of Scottish offshore wind farm
- Wind farms at sea are a key part of U.K. and EU net-zero push
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French oil company Total SA has bought a 51% stake from utility SSE Plc in the development of a massive wind farm off the coast of Scotland.
The 70-million-pound investment ($88 million) in the Seagreen 1 wind farm will be Total’s first significant foray into offshore wind as it seeks to expand its green energy business. SSE could also be in line for future payments of 60 million pounds based on certain performance conditions, Total said.