TotalEnergies Secures France’s Biggest Offshore Wind Project, Nigerian Oil Deal Collapses
A TotalEnergies-led consortium has won the bid to develop a massive 1.5-gigawatt offshore wind farm along the Normandy coast, a project hailed as France’s largest to date.
The €4.5 billion ($5.3 billion) investment marks a major step forward for the country, which has struggled to keep pace with EU renewable energy targets. Once completed, the wind farm is expected to generate about six terawatt-hours of electricity each year — enough to power one million homes.
“This is a proud moment for us,” said Isabelle Patrier, head of TotalEnergies France. “But new energy policies are needed to give industry players confidence and push fresh tenders.”
This win is particularly significant for TotalEnergies, as previous French offshore wind contracts had largely gone to state-backed EDF and Engie. Currently, only 2 GW of the company’s 25 GW renewable portfolio sits in France, though it plans to double that by 2030. A final investment decision is expected in 2029, with the turbines scheduled to begin operations in 2033.
While the French project signals growth, the company hit a setback in Nigeria. Plans to sell its 10% stake in Shell Petroleum Development Company of Nigeria Limited (SPDC) to Mauritius-based Chappal Energies have fallen through.
Regulators in Abuja confirmed that the $860 million deal was scrapped after both sides failed to meet key financial obligations tied to ministerial approval.
“The consent came with financial commitments to the Nigerian people under strict deadlines. Both parties missed them, even after extensions, so the deal had to be canceled,” said Eniola Akinkuoto of the Nigerian Upstream Petroleum Regulatory Commission.
The move follows a broader trend of oil majors pulling out of Nigeria’s onshore sector. In March, Shell sold its 30% stake in SPDC to a consortium of local firms for up to $2.4 billion, while ExxonMobil, Eni, and Equinor have also divested in recent years.
Chappal, which last year closed a $1.2 billion deal for Equinor’s Nigerian assets, had not disclosed financial backers for the Total transaction. Other SPDC stakeholders include Nigeria’s state-owned NNPC (55%) and Eni (5%).
