TotalEnergies, Galp Eye Wind Opportunities Offshore Portugal

Outlook & Strategy

June 21, 2023, by Adnan Memija

Portuguese energy company Galp has decided to join forces with French energy major TotalEnergies to explore the potential development of wind projects offshore Portugal.

SSE Renewables / TotalEnergies; Seagreen offshore wind farm, Scotland’s biggest offshore wind farm

The partnership combines Galp’s knowledge of the Portuguese market with TotalEnergies’ expertise in large-scale offshore wind projects, according to the press release.

The partners said that they intend to contribute with their technical skills and knowledge of energy markets to play a key role in the development of the offshore wind sector in Portugal.

“Galp plans to transform its industrial base in Portugal to provide a wide range of low-carbon energy solutions and renewable energies are the backbone of this transition”, said Georgios Papadimitriou, executive director of Galp for Renewables, New Business, and Innovation .

At the beginning of this year, the country identified draft areas for offshore wind development as part of the government’s plan to award 10 GW of capacity that would be grid-connected by 2030.

The auction is expected to take place in autumn 2023.

In recent months, several companies turn their attention toward the Portuguese offshore wind market.

At the beginning of this year, Copenhagen Infrastructure Partners (CIP) announced that it plans to invest EUR 8 billion in a multi-gigawatt offshore wind project in Portugal.

A few months later, another offshore wind developer, Corio Generation, partnered with Hyperion Renewables to explore opportunities to build projects off the coast of Portugal.

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When it comes to TotalEnergies, the firm has a global offshore wind portfolio of 12 GW. It also has over 550 MW of wind and solar energy under development in Portugal.

“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, VP Offshore Wind at TotalEnergies.

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