Total Energies Offshore Wind, $5.3 B RWE Deal, 1.5 GW Centre Manche 2, and Air Liquide Green H 2 Agreements (2025)

Total Energies Integrated Energy System Projects

In 2025, Total Energies validated a strategy that moves beyond building standalone renewable assets to architecting integrated energy systems, using its offshore wind portfolio as a foundation to supply captive industrial decarbonization projects. The company transitioned from a strategy focused on adding megawatts to one centered on creating value by linking large-scale power generation directly to green hydrogen production for its own refineries. This approach leverages its legacy oil and gas project management expertise to secure complex offshore tenders while simultaneously de-risking its power generation investments against electricity price volatility.

• Prior to 2024, the company’s focus was on acquiring and developing a broad portfolio of renewable assets to meet capacity targets. The strategy was primarily about asset accumulation and diversification into renewables.
• In 2025, the strategy became more focused and integrated. The win of the 1.5 GW Centre Manche 2 project in France and the advancement of 3 GW of projects in Germany demonstrate a focus on securing gigawatt-scale projects in core European markets.
• The critical shift in 2025 was the formalization of a partnership with Air Liquide to power a 250 MW electrolyzer with offshore wind electricity. This move creates a captive offtake structure, turning renewable power into a chemical feedstock (green hydrogen) to decarbonize its own European refining operations.

Total Energies Project Execution at Scale

The company demonstrated its capacity to execute large, complex energy projects by securing France’s largest-ever offshore wind farm and advancing a significant portfolio in Germany. The successful tender for the 1.5 GW Centre Manche 2 project, a projected $5.3 billion investment, underscores its ability to compete and win in Europe’s most mature renewable markets. This activity is a direct application of the company’s long-standing experience in managing large-scale offshore infrastructure, now repurposed for the energy transition.

De-risking Power Generation via Hydrogen

The most significant strategic development in 2025 was the move to create a closed-loop system between its power generation and industrial consumption. The partnership with Air Liquide to produce 45, 000 tonnes of green hydrogen annually from the Oranje Wind farm is a foundational step. This vertically integrates its offshore wind assets, providing a hedge against fluctuating wholesale power prices and guaranteeing demand for the electricity produced, a challenge that pure-play renewable developers often face.

Total Energies €5 B Investment in French Offshore Wind

Total Energies committed significant capital in 2025 to secure its leadership position in the European offshore wind market, highlighted by a multi-billion-euro investment in a single French project. This capital allocation reflects a clear strategic decision to prioritize large-scale, high-impact projects that serve as cornerstones for its integrated energy strategy. The investments are not just for power generation but are designed to anchor a new, low-carbon value chain connecting renewable electrons to green molecules.

• The primary investment was the successful bid for the Centre Manche 2 project, which represents a total projected investment of approximately $5.3 billion (€5 billion) by the consortium led by Total Energies.
• This was complemented by investments tied to the joint venture with Air Liquide, which includes developing a 250 MW electrolyzer at its Normandy refinery, directly linking industrial decarbonization capital expenditure to its renewable energy asset base.
• These financial commitments reinforce the company’s corporate goal of reaching 35 GW of gross renewable electricity generation capacity by the end of 2025, providing the financial backing required for its ambitious project pipeline.

Centre Manche 2, A $5.3 B Commitment

The winning bid for the Centre Manche 2 project is the company’s largest single renewable energy investment in 2025. As the designated operator of the 1.5 GW wind farm, Total Energies takes on the primary responsibility for the development, construction, and operational phases. The competitive power price of €66/MWh secured in the tender indicates strong commercial discipline and confidence in its project execution capabilities.

Green Hydrogen JV with Air Liquide

The financial commitment to the green hydrogen joint venture with Air Liquide represents a strategic, long-term investment in vertical integration. While the specific capital figure for the 250 MW electrolyzer was not fully disclosed as a standalone number, it is part of a larger investment by Air Liquide and Total Energies to decarbonize the Normandy platform. This project links renewable asset investment directly to industrial process transformation.

Table: Total Energies Key 2025 Energy Transition Investments

Total Energies Alliances with RWE, Air Liquide, and Mistral AI

Total Energies‘ 2025 strategy is built upon a foundation of strategic partnerships that provide technical expertise, de-risk large-scale capital projects, and open new technology frontiers. These collaborations span the entire value chain, from co-developing gigawatt-scale wind farms with established energy players to integrating cutting-edge artificial intelligence for operational efficiency. The alliances with RWE, Air Liquide, and Mistral AI were central to the year’s major successes.

• The partnership with RWE was critical for securing the Centre Manche 2 tender in France and for the ongoing development of the Oranje Wind project in the Netherlands. This alliance combines the project management strengths of two energy majors.
• The collaboration with Air Liquide is the cornerstone of its integrated energy strategy, providing the technical expertise in industrial gases and electrolysis required to link offshore wind power to green hydrogen production effectively.
• The agreement with Mistral AI, a French AI startup, signals a commitment to digitalization and innovation, aiming to use generative AI to optimize project development, reduce costs, and accelerate timelines for its complex energy projects.

RWE Alliance for Project Development

The partnership with RWE is a pragmatic alliance of two European energy giants. In 2025, this collaboration proved successful with the Centre Manche 2 win, where Total Energies will act as operator. The partnership also extends to the Oranje Wind farm in the Netherlands, demonstrating a repeatable model for co-development of major offshore projects.

Technology Collaborations with Mistral AI

The collaboration with Mistral AI, announced in June 2025, moves Total Energies into a new domain of technological application. The goal is to develop AI-powered tools to assist in project development and site operations. This partnership is intended to create a competitive advantage by improving the speed and efficiency of decision-making in its increasingly complex portfolio of multi-energy projects.

Table: Total Energies Strategic Partnerships (2025)

Europe vs. US, Total Energies Geographic Focus

Total Energies‘ offshore wind activity in 2025 was heavily concentrated in Europe, specifically France and Germany, where it secured a pipeline of over 4.5 GW of new projects. This European focus is driven by supportive regulatory frameworks, established supply chains, and the proximity of its industrial assets targeted for decarbonization. In contrast, its activities in the U.S. and Asia, while significant, faced different market dynamics and served different strategic purposes.

• Between 2021 and 2024, Total Energies built a global portfolio through acquisitions and lease auctions, including in the U.S. and Taiwan, establishing a broad geographic footprint.
• In 2025, the strategic execution became geographically concentrated. The company committed its largest investments and operational resources to winning tenders and advancing permits for large-scale projects in the German North Sea and off the coast of France. These are now the core of its growth strategy.
• Activity in the U.S., centered on the 1.5 GW Carolina Long Bay project, proceeded at a slower pace. The market environment was complicated by competitor project cancellations due to rising costs, highlighting the relative stability of the company’s core European markets.
• In Asia, the inauguration of the 640 MW Yunlin wind farm in Taiwan marked the successful completion of a project initiated in the prior period, demonstrating execution capability but not a new strategic push on the scale seen in Europe.

SWOT Analysis, Total Energies 2025 Offshore Wind Strategy

The SWOT analysis of Total Energies’ 2025 offshore wind activities reveals a company successfully leveraging its legacy strengths to build a formidable position in a new energy sector, though it remains exposed to market-wide challenges. The strategic pivot to integrate power generation with hydrogen production is a key strength that also presents new execution complexities. This analysis contrasts the company’s position before and during its significant strategic push in 2025.

• The primary strength validated in 2025 was its ability to transfer oil and gas project management skills to win complex, large-scale offshore renewable tenders.
• A key weakness remains its relative dependency on partnerships with more experienced renewable operators like RWE for certain projects, though it is increasingly taking on operator roles.
• The major opportunity being realized is the creation of an integrated value chain via green hydrogen, which hedges against electricity market risks.
• The most significant threat is the cost inflation and supply chain pressure affecting the entire industry, as evidenced by challenges in the U.S. offshore wind market.

Table: SWOT Analysis for Total Energies Offshore Wind Initiatives

Total Energies Scenario: Executing on 4.5 GW European Pipeline

The critical factor for Total Energies in the coming year will be its ability to execute on the massive project pipeline it secured in Europe during 2025. Having won the tenders and initiated permitting, the focus now shifts to navigating the complex development, construction, and financing phases for over 4.5 GW of offshore wind capacity in France and Germany. Success will depend on managing supply chain constraints, cost pressures, and the intricate technical requirements of integrating these assets with its hydrogen production goals.

• If Total Energies successfully reaches a Final Investment Decision (FID) for the Centre Manche 2 project and secures key offtake agreements for its German portfolio, it will solidify its position as a top-tier operator in European offshore wind. Watch for major equipment orders (turbines, foundations) as early signals.
• A key indicator will be progress on the Air Liquide hydrogen project. If the company breaks ground on the 250 MW electrolyzer and secures long-term offtake agreements for the green hydrogen, it validates the entire integrated energy strategy.
• Conversely, if these projects face significant delays, cost overruns, or if the hydrogen offtake agreements fail to materialize at commercially viable terms, it could signal that the execution risk of this integrated strategy is higher than anticipated. This would call into question the viability of using captive hydrogen production as a de-risking mechanism for offshore wind investment.

The questions your competitors are already asking

This report covers one angle of TotalEnergies’ integrated energy strategy. The questions that matter most depend on your work.

• Centre Manche 2 project timeline and suppliers
• Green hydrogen production costs Europe 2025
• Shell BP Equinor integrated renewable power strategy
• TotalEnergies US offshore wind project status

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