TotalEnergies wins France wind bid through a consortium that secured a 1.5-gigawatt offshore project off Normandy. The government hopes this project will boost its clean energy credentials. Meanwhile, Nigeria’s NUPRC abruptly voided an $860 million asset sale by Total, citing unmet financial obligations. The twin developments spotlight shifting priorities in energy, regulation, and strategic investment.
Moving forward, the French wind farm tender marked TotalEnergies’ first major win in France’s offshore sector. EDF and Engie often claimed such projects, but this award breaks that trend. The company pledged to deliver 6 terawatt-hours of electricity annually, enough to power about one million households under current demand levels.
In addition, the wind farm project carries a state-set tariff of €66 per megawatt-hour, a rate higher than previous tenders due to elevated construction costs. Total said the pricing reflects a 50 percent rise in materials, labor, and grid connection challenges. The company expects to make its final investment decision by 2029 and begin operations around 2033.
Moreover, in Nigeria, the NUPRC cancelled Total’s deal to sell its 10 percent stake in the SPDC onshore unit. The commission argued that Total and the buyer failed to meet mandated financial commitments and regulatory conditions. As a result, ministerial consent was withdrawn, and the sale was terminated.
Meanwhile, sources familiar with the deal said Chappal Energies, the intended buyer, never raised the required $860 million. Because of this shortfall, Total could not fulfill its fee payments, rehabilitation obligations, and environmental liabilities tied to the asset. The failure triggered the cancellation.
Also, the contrasting developments signify how energy investors must navigate both opportunity and risk. In France, renewable energy policies created a platform for new growth. In Nigeria, regulatory oversight is tightening, and government agencies demand strict compliance before approving major divis.
Furthermore, Total already holds about 25 gigawatts of renewable capacity globally, but just 2 GW in France. Winning this bid could double its French share by 2030, demonstrating a deeper commitment to the domestic energy transition. The project cost—about €4.5 billion excluding grid costs—shows the scale of ambition.
Finally, this moment highlights the tension between ambition and execution in the energy sectors. On one side, the France wind bid won by Total amazes with its strategic win in a competitive market. On the other hand, regulatory clampdowns in Africa remind us that deal completion depends on financial discipline and compliance. For Total, these twin stories may define its next decade of growth.
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