BP and TotalEnergies win auction for renewable energy capacity in the North Sea

Companies linked to fossil fuel production won the latest German auction for offshore wind farms in the North and Baltic Seas. BP and TotalEnergies will build offshore wind farms with a capacity of 7 gigawatts (GW) in German waters. According to EURACTIV this highlights the appeal of renewable energy across Europe.

Jefferies analysts pointed to the high auction price, adding that it signals “strong interest from energy companies in European offshore wind sites”.

Three sites in the tender, each for the construction of 2 GW of offshore wind turbines, are located about 120 km northwest of the island of Heligoland in the North Sea, while one 1 GW site is in the Baltic Sea, about 25 km from the island of Rügen.

BP diversifies its portfolio

BP secured the rights to build two projects, marking its entry into offshore wind in continental Europe.

“This is a significant milestone for BP and demonstrates our commitment to becoming an integrated energy company,” said BP’s head of offshore wind, Matthias Bausenwein.