Clean Energy Wire: Oil Majors Pay 12.6B Euro Entry Fee in “Quantum Leap” for Offshore Wind Energy
The winning bid earns the right to build wind farms in the North and Baltic seas in the world’s largest ever offshore wind auction.
Multinational oil companies BP and TotalEnergies emerged as winners in Germany’s latest auction for the right to build offshore wind farms in the North and Baltic seas. The companies, which are headquartered in the UK and France, bid a combined 12.6 billion euros to construct turbines with a total capacity of 7 gigawatts (GW), roughly equivalent to 7 large conventional power stations, and almost equaling the country’s entire existing offshore capacity.
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