TotalEnergies and Simply Blue Group found US joint venture TotalEnergies SBE

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Released: October 13, 2021 at 8:00 a.m. CDT|Updated: 3 hours ago

PARIS and PORTLAND, Oct 13, 2021 / PRNewswire / – TotalEnergies, a global multi-energy company, and Simply Blue Group, a pioneer in floating offshore wind, have formed a joint venture to TotalEnergies SBE USto unlock the huge potential for floating offshore wind projects in The United States.

TotalEnergies SBE US will combine TotalEnergies’ expertise in large offshore projects, the floating know-how of the Simply Blue Group and a team of pioneers in the US offshore wind industry to unlock untapped opportunities in the deep sea that millions of people have US homes will be supplied with renewable electricity.

“Our goal is to have installed 100 gigawatts of global renewable power generation by 2030, some of which will come from floating offshore wind projects. We are delighted that this partnership with Simply Blue is helping our company to achieve this goal. “ said Stéphane Michel, President, Gas, Renewables & Power at TotalEnergies. “We are convinced of the great potential of floating offshore wind power to supply the US coasts with renewable electricity and bring our extensive know-how to offshore projects.

“The future and next frontier of US offshore wind power is floating”. This joint venture with TotalEnergies offers everything we need to deliver floating offshore wind to America’s shores “, called Sam Roch perks, CEO, Simply Blue. “AAlmost two-thirds of US offshore wind resources are in deeper waters that require floating wind platforms. TotalEnergies SBE US brings together the size, expertise and international track record to responsibly develop floating offshore wind power on all coasts of America. “

Offshore wind has arrived. To bring its full benefit to the market, we need to go big and deep,called Stephanie McClellan, Ph.D., Chief of Strategy & Policy, TotalEnergies SBE US and Founder, Special Initiative on Offshore Wind. “TotalEnergies SBE US will accelerate the development of floating wind in the US, helping states and the federal government achieve their clean power goals.

Today TotalEnergies has more than 6 GW of offshore wind under development worldwide, over 40% of which is from floating offshore wind, including over 2 GW from floating wind projects in South Korea. Simply Blue Group has more than 3.2 GW of offshore wind under development Ireland and Great Britain.

About the US offshore wind market
In March 2021, the Biden administration continued a 30 GW target for US offshore wind by 2030. Deep waters off the coasts of California, Oregon, Hawaii, Gulf coast, and the East coast Up to 35 GW of development potential by 2040. In addition to access to deep-sea locations, floating wind offers additional advantages: the winds are stronger and more stable outside the coast, which allows higher yields, and the wind turbines are not visible from the coast. In 2020 alone, the global pipeline of floating offshore wind projects more than tripled to over 25 GW, according to the U.S. Department of Energy, with floating wind costs falling rapidly. To the The United Statesreports the National Renewable Energy Laboratory approx. 60% viable offshore wind resources can only be tapped with floating technologies.

TotalEnergies, Renewables and Electricity
As part of the ambition to achieve net zero by 2050, TotalEnergies is building a portfolio of activities in the field of renewable energies and electricity that should account for up to 40% of its sales by 2050. At the end of 2020, TotalEnergies’ gross electricity generation capacity will be around 12 GW worldwide, 7 GW of which will be renewable energy. TotalEnergies will continue to expand this business to 35 GW of gross production capacity from renewable sources by 2025 and then to 100 GW by 2030, with the aim of being among the top 5 renewable energies worldwide.

About TotalEnergies
TotalEnergies is a global multi-energy company that produces and markets energies worldwide: oil and biofuels, natural gas and green gases, renewable energies and electricity. Our 105,000 employees are committed to energy that is increasingly affordable, cleaner, more reliable and accessible to as many people as possible. TotalEnergies is active in more than 130 countries and places sustainable development in all its dimensions at the center of its projects and activities in order to contribute to the well-being of the people. On twitter @TotalEnergies, LinkedIn /Total energies, Facebook /Total energies and Instagram /Total energies.

About TotalEnergies SBE US
TotalEnergies SBE US is a joint venture between TotalEnergies and Simply Blue Group, dedicated to the development and delivery of floating offshore wind energy on US coasts. TotalEnergies SBE US is a team of seasoned American developers directly connected to states and local communities who are committed to expanding floating offshore wind power across the region The United States with the support of TotalEnergies, a global multi-energy company with a diverse portfolio of renewable assets.

About Simply Blue Group
Simply Blue Group based in Cork, Ireland, is a leading blue economy developer focused on replacing fossil fuels with clean ocean energy. It develops pioneering blue economy projects – floating offshore wind power, wave energy and environmentally friendly aquaculture – all in harmony with the oceans. The company has a pipeline of over 9 GW of floating offshore wind projects, mostly in offshore waters Ireland and Great Britain. Simply Blue is committed to creating new economic opportunities for coastal communities and developing projects that coexist with sustainable fishing and marine conservation. For more information, see: https://simplybluegroup.com and http://www.simplybluegroup.com/USA. On twitter @SimplyBlueUS.

Warning notice
This press release, from which no legal consequences can be drawn, is for informational purposes only. The companies in which TotalEnergies SE has a direct or indirect stake are independent legal entities. TotalEnergies SE is not liable for their actions or omissions. The terms “company” or “TotalEnergies-Gesellschaft” relate collectively to TotalEnergies SE and the companies controlled by it directly or indirectly. These terms are used for the purposes of this announcement for the sake of convenience only. Likewise, the words “we”, “us” and “our” can also be used to refer to subsidiaries in general or their employees. This document may contain forward-looking information and statements that are based on a variety of economic data and assumptions made in specific economic, competitive and regulatory environments. They can prove inaccurate in the future and are subject to a number of risk factors. Neither TotalEnergies SE nor any of its subsidiaries undertake to publicly update any forward-looking information or statements, goals or trends contained in this document as a result of new information, future events or otherwise.

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SOURCE Simply Blue Group

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