Wednesday 2nd of March 2022 10:51:34 AM
TotalEnergies joins JV to explore wind power development off California coast
Michael Betts/DigitalVision via Getty Images TotalEnergies (TTE +8.1%) says it has become a joint venture partner in the Castle Wind project off the coast of Morro Bay in California after acquiring shares previously held by Germany's EnBW. TotalEnergies is joining Trident Winds Inc. in the joint venture that was created to help bring a floating offshore wind farm with a proposed 1 GW capacity to California. The JV is expected to participate in the planned Bureau of Ocean Energy Management lease sale to be held late this year. Earlier this week, the German utility also sold to TotalEnergies its interest in an offshore wind lease area in the New York Bight.