French petro-giant Total has no plans to invest in offshore wind power projects in the near-term, bucking the emerging trend among European offshore oil and gas developers including Norway’s Statoil and Anglo-Dutch supermajor Shell to buy into the fast-evolving industry, according to its senior vice president for strategy and corporate affairs.
Helle Kristoffersen said the Paris-headquartered energy combine, which recently restructured its operations to form a division called Gas, Renewables & Power (GRP) and owns a majority share of troubled solar power outfit SunPower, saw the levellised cost of offshore wind as “not as good a fit [as solar] as an energy for distributed scenarios”.
“It
