What Is TotalEnergies’ Latest Offshore Wind Project?
TotalEnergies says its wholly owned project company, Centre Manche Energies, has applied for the Single Authorization for a 1.5 GW offshore wind farm off the coast of Normandy, eight months after being awarded the project by the French State.
The company calls it France's largest renewables project, targeting about 6 TWh of annual generation. It is enough to supply renewable power to nearly one million French homes.
The 4.5 billion euros ($5.23 billion) investment is projected to deliver strong local economic impact, creating up to jobs during its three-year construction period.
The initiative will further support European supply chains by prioritizing local sourcing, especially for wind turbines and subsea cables.
Fuel-Price Cap Extension
Yesterday, the company reported an extension of its fuel-price cap in France, a consumer-facing move that can help steady volumes and sentiment even with U.S. index ETFs pointing lower before the bell.
TotalEnergies says it will keep capping fuel prices across its roughly 3,300 service stations in France "as long as the crisis in the Middle East lasts," maintaining June caps of 1.99 euros per liter ($2.31) for gasoline and 2.25 euros ($2.62) per liter for diesel.
It ...
