Energy & Science
Total to Bid for Stake in $7.4 Billion U.K. Wind Farm
- Seagreen offshore wind farm would be built in British waters
- Plant would be the first in U.K. without full state support
Photographer: Paul Ellis/AFP via Getty Images
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French oil company Total SA is among the final bidders for a stake in an offshore wind farm that may cost more than $7 billion to develop and operate, according to people familiar with the matter.
The move is significant because it highlights growing interest from major oil companies in renewables assets. It also would be the first facility of its kind in the U.K. built without full state support, making it more risky than what’s been built to date.