PTTEP, Thailand’s leading energy company has acquired a 25.5% stake in Seagreen, Scotland’s largest and the world’s deepest fixed-bottom wind farm. This strategic investment underscores the company’s continuous growth into the clean energy business.
PTTEP has acquired its stake from TotalEnergies. TotalEnergies retains a stake of 25.5% in the wind farm which became fully operational in October 2023. SSE Renewables, the operator, retains its 49% stake.
Mr. Montri Rawanchaikul. Chief Executive Officer of PTTEP said: “The successful investment in the Seagreen Offshore Wind Farm project marks a significant step for PTTEP in diversifying into the high-growth potential clean energy sector. This investment entails low-level risks as it is in the operational phase, with stable cashflow, works in partnership with global experienced players and is in the country with supportive policies to propel continuous development of the offshore wind market.”
Patrick Pouyanné, Chairman and CEO of TotalEnergies said: "After a long history of partnership in gas production in Thailand, we are delighted to welcome PTTEP as a shareholder partner in the Seagreen offshore wind farm alongside SSE.”
The transaction was announced in December 2023 subject to government and regulatory approvals and completed in May 2024.