The auction of two plots in the North Sea underscores TotalEnergies’ continued interest in big offshore wind projects in Europe’s largest economy
and utility EnBW won a 2.5 gigawatt German offshore wind site auction that fetched $3.2-billion, the country’s energy regulator said on Friday, marking a plunge in price from last year.
The French oil major and British peer BP had emerged as winners in a similar auction last year that was seen as evidence that big oil is seeking to diversify away from fossil fuels. The auction consisted of two sites worth 1.5 and 1.0 gigawatt each. The planned offshore wind parks are expected to start operations in 2031, the regulator said.
This equates to an average strike price of around €1.2-million per MW, down a third from last year’s average, a reduction not all bidders were prepared to reflect in their calculations.
Oil Germany Auction Rwe Gigawatt Regulator Price Totalenergies RWE North Sea Germany
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