EnBW exits US market after big win, sells rights to TotalEnergies

French oil major TotalEnergies is acquiring the entire license purchased last Friday for USD 795m, expecting to convert it into 3GW offshore wind.

Photo: EnBW

EnBW had lofty ambitions upon entering the US offshore wind market in 2018. After hiring one of the industry's pioneers, Bill White, to spearhead the North American division, the Baden-Wüttemberg-based utility planned to make the US one of its select focus markets as part of a strategy to invest more than USD 5bn in renewables towards 2025.

On the surface, it appeared as if EnBW achieved a breakthrough with this strategy last Friday. Attentive Energy, a joint venture among EnBW and French oil supermajor TotalEnergies, secured the second-largest license area at the New York Bight auction of ocean floors for a total price of USD 795m.

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