French energy giant TotalEnergies looks set to pull out of a number of offshore wind contracts in Germany.
The revelation, published in German newspaper SZ on 19 May, comes just weeks after TotalEnergies was paid US$1bn by the Trump administration to scrap its offshore wind projects off the East Coast of the US.
SZ’s reporters say the energy major is reportedly seeking an exit from several German offshore wind leases it won in a 2023 state auction – sites for which it committed to paying around US$7bn.
For a company with ambitious 2030 carbon reduction targets and a 2050 net-zero goal, these moves seem counterintuitive and suggest a shift in operations back towards fossil fuels.
The company, however, insists it is “actively working on the realisation of our projects” but is seeking “practical solutions”.
