Energy Industry’s Evolution

Total S.A., Ørsted A/S, and Elicio have formed a consortium to bid for the Dunkirk offshore wind farm project, off the northern coast of France. The tender for the Dunkirk offshore wind farm was initiated in November 2018 by the government of France. The wind farm will have a generating capacity of up to 600 MW. The tender is expected to be awarded in June 2019.

The formation of the new consortium illustrates the evolution that is taking place in the energy industry. Total is considered one of the seven “Supermajor” oil companies in the world and is headquartered in Paris, France. Total has been steadily increasing their investments in renewable and biofuels over the past decade.

Ørsted A/S is a multinational power company, headquartered in Fredericia, Denmark. The company is the largest offshore wind farm company in the world. However, Ørsted was formerly known and Danish Oil and Natural Gas (DONG) Energy. In 2017, the company sold off its coal, oil and natural gas assets and became a power and renewable energy company. On November 6, 2017, DONG Energy formerly change its name to Ørsted A/S.

Elicio, founded in 2016 is a renewable energy company that is headquartered in Paris, France. The company’s focus is in onshore and offshore wind projects. Elicio is already participating in the three offshore wind farms off the coast of Belgium.

Contrary to many conspiracy theorists, “Big Oil” isn’t lurking in the shadows looking to derail the renewable energy industry. This consortium consists of a start-up renewable energy company, a former Danish oil company and a French Supermajor oil company that is beginning to move into renewable energy. In my opinion, the move of big oil companies into renewables will leverage their cutting-edge technology and deep pockets to accelerate the world’s move to renewable energy.
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