lHave agreed to actively cooperate with each other to construct the Ulsan floating offshore wind farms, together with companies specializing in shipbuilding and offshore plants in Ulsan, Busan, and South Gyeongsang ProvincelCreate an industrial ecosystem for the new growth engine by securing source technologies for the floating offshore wind power farms, which is being promoted for the first time in Korea lEstablish a supply system in Korea for the infrastructure and the supply equipment industry, which are the key to the construction commencement of the offshore wind power farms lDevelop localized technologies in design, manufacturing, transportation, installation, maintenance, and repair fields; and secure infrastructure for more local equipment and experts l“The project for the construction of the Ulsan floating offshore wind farm is the core of Korea’s plan to achieve carbon neutrality by 2050 and Ulsan’s energy transition”   (June 10, 2021) – Green Investment Group (GIG), a global leading green energy development and investment company, and TotalEnergies, a France-based global energy company, issued on June 9 a joint declaration for cooperation with the Ulsan Council for Floating Offshore Wind Power Supply Chain in order to construct Korea's first floating offshore wind farms in the city.   GIG and TotalEnergies announced that the council and the companies, together with other private investment and development companies, adopted the joint declaration for cooperation to ensure that they would actively cooperate with each other in the creation of the offshore wind power farm at the signboard installment ceremony of the council held at the Ulsan Techno Industrial Complex on the same day, attended by Ulsan Metropolitan City Mayor Song Cheol-ho and officials from relevant entities, such as Ulsan Techno Park.   The Ulsan Council for Floating Offshore Wind Power Supply Chain is composed of companies specializing in shipbuilding and offshore plant equipment in Ulsan, Busan, and South Gyeongsang Province. Currently, it is operated with 80 member companies and plans to accept 300 more companies as members by the end of this year.   According to this joint declaration, the council and private investment and development businesses, such as GIG and TotalEnergies, have agreed on securing source technologies for the construction of the floating offshore wind farms in Ulsan, which are being promoted for the first time in Korea, to create an industrial ecosystem for a new growth engine in Ulsan.   In addition, they will work with each other to establish a supply system for the infrastructure and the supply equipment industry in Korea, which are the core of the construction commencement of the Ulsan floating offshore wind power farms, and at the same time, develop localized technologies in fields, such as design, production, transportation, installation, maintenance, and repair of the floating offshore wind farm, and secure the infrastructure for more domestic equipment and local experts.   The joint declaration states that the Ulsan floating offshore wind projects are the key to energy transition in Ulsan, and will serve the purposes for Korea to achieve carbon neutrality by 2050 and install an offshore wind farm with capacity of a total of 12 gigawatts by 2030.   In this regard, "The core policy of the construction project is aimed to revitalize the local economy and create jobs in the region through localization," GIG and TotalEnergies said. "Since floating offshore wind power generation is closely related to the shipbuilding and offshore plant industries, we will establish a supply chain for materials, parts and equipment in Ulsan, Busan and South Gyeongsang Province and promote the floating offshore wind power development projects by utilizing the shipbuilding and offshore plant infrastructure already established in the regions.”   "A number of experts in offshore, wind power, electricity, and finance are required to build and manage a floating offshore wind farm for thirty years," GIG and TotalEnergies added. “It is estimated that a total of 21,837 new jobs will be created by the 1.5-gigawatt offshore wind farms that GIG and TotalEnergies are seeking to build."[1]   GIG and TotalEnergies are constructing a floating offshore wind farm with a capacity of a total of more than 1.5 gigawatts in three phases in the waters 60 kilometers away from Ulsan Port (formerly East Sea Jeong Dumping Area). [1] Source: Socio-economic Impact Study of Offshore Wind (QBIS, 2020. 7.) – An offshore wind farm creates 14,558 jobs per gigawatt Photo 1) GIG and TotalEnergies issued on June 9 a joint declaration for cooperation with the Ulsan Council for Floating Offshore Wind Power Supply Chain in order to construct Korea's first floating offshore wind farms in the city.Photo 2) GIG and TotalEnergies issued on June 9 a joint declaration for cooperation with the Ulsan Council for Floating Offshore Wind Power Supply Chain in order to construct Korea's first floating offshore wind farms in the city.  

- With the ChildFund Korea, they delivered 11 units of drones, an extra-large inflatable swimming pool, and 500 books.- GIG and Total pledge to continue providing a variety of supports for local residents of Geomundo.   (May 4, 2021) – Green Investment Group (GIG), a global leading green energy development and investment company, and Total, a broad energy company, announced that they donated 11 units of drones, an inflatable swimming pool, and 500 children's books to Yeosu Geomun Elementary School in South Jeolla Province in cooperation with the ChildFund Korea to mark Children's Day. Employees of GIG and Total visited the school with the staff of the ChildFund Korea ahead of Children’s Day and delivered one unit of DJI Phantom 4 Pro and 10 units of Shima 3D Flip Flying Drones, an extra-large inflatable swimming pool, and 500 children's books. They also donated 100 books to the Samsan-myeon Library in the region. GIG and Total (Geomundo Offshore Wind Power) are making various efforts to pursue co-prosperity with local residents while promoting a floating offshore wind project with a 500MW capacity off the coast of Geomundo in Yeosu. The donation is part of their efforts to contribute to the Geomundo community. “I am pleased at the useful gifts given by GIG-Total to the children of Yeosu Geomun Elementary School on Children's Day,” said the school principal Song Chun-dal. “An offshore wind development is a long-term project that lasts for 30 years,” an official from GIG and Total said. “In the process of the project development, we will come up with and provide various supports that can contribute to the local community while closely communicating with residents of Geomundo.”  Meanwhile, GIG and Total have signed a cooperative agreement with the Geomundo Villagers Committee comprised of local residents, for the smooth construction of the floating offshore wind project near the island.  Photo 1) GIG and Total have donated drones, an inflatable swimming pool and children's books to Yeosu Geomun Elementary School in South Jeolla Province to commemorate Children's Day.Photo 2) GIG and Total have donated drones, an inflatable swimming pool and children's books to Yeosu Geomun Elementary School in South Jeolla Province to commemorate Children's Day. 

- GIG and Total are developing a 500MW floating offshore wind project near Geomundo in South Jeolla Province.  - GIG and Total executed the agreement to thoroughly engage with the stakeholders from the early stage of the project development. - GIG and Total plan to discuss with Geomundo Villagers Committee regarding the compensation for the fisheries, after obtaining the electricity business license (EBL).   (April 30, 2021) – Green Investment Group (GIG) and Total signed a cooperative agreement with Geomundo Villagers Committee (“Committee”) on April 28 to develop a 500MW floating offshore wind project near Geomundo Island off the coast of Samsan-myeon in Yeosu City, South Jeolla Province.   GIG, a global leading green energy development and investment company, and Total, a broad energy company, are developing a 500MW floating offshore wind project off the coast of Geomundo Island, Yeosu.   GIG and Total said it executed the agreement to thoroughly engage with the Committee, which was one of the stakeholders, from the early stage of the project development. The Committee consists of six village heads representing six villages in the island (about 860 households) and one chairperson of the regional development committee of Samsan-myeon.   The agreement signed by the two and resident delegates included details of cooperation to promote the floating offshore wind project in a way co-prospering with the local community. The companies and the Committee reconfirmed commitments that the residents of Geomundo will be in favor of the offshore wind development project and provide necessary cooperation, and GIG and Total will have sincere discussions with the Committee on the compensation measures, including the one for the fisheries, that are related to the project development such as the installation of wind power generators after obtaining the electricity business license (EBL).   Kim Bo-hwan, Director of Geomundo Villagers Committee, said “We are expecting to promote the offshore wind project where local residents, fishermen, and the developer can harmoniously co-prosper through transparent and continuous communication and cooperation.” “We also plan to discuss the general measures to revitalize the local economy, such as creating additional income for the residents by establishing a travel route during the development, which connects Geomundo, the wind farm, and Baekdo Island,” he added.   GIG and Total are promoting floating offshore wind projects with a total installed capacity of 2.5GW, 1.0 GW of which in South Jeolla Province and 1.5GW in Ulsan. Through its floating offshore wind projects in Korea, GIG and Total plan to revitalize the stagnant shipbuilding and offshore plant industry of the country and contribute to job creation by closely cooperating with shipbuilding and heavy industry companies that possess world-class competitiveness in their fields. Photo 1) GIG and Total signed a cooperative agreement with Geomundo Villagers Committee to develop a 500MW floating offshore wind project near Geomundo Island in Yeosu, South Jeolla Province.Photo 2) GIG and Total signed a cooperative agreement with Geomundo Villagers Committee to develop a 500MW floating offshore wind project near Geomundo Island in Yeosu, South Jeolla Province.  

- GIG and Total are developing a 500MW floating offshore wind project near Maenggoldo in Jindo-gun, South Jeolla Province. - GIG and Total executed the agreement to fully communicate with stakeholders from the early stage of the offshore wind project development.- The purpose of the agreement is to stipulate in detail how to cooperative and co-prosper with local residents and fishermen. (April 13, 2021) – Green Investment Group (GIG) and Total signed a cooperative agreement with Maenggoldo Villagers Committee (“Committee”) on April 8 to develop a 500MW offshore wind project near Maenggoldo in Jindo-gun, South Jeolla Province.  GIG, a global leading green energy development and investment company, and Total, a broad energy company, are promoting a 500MW offshore wind project in the southwest sea of Maenggoldo in Jindo-gun. GIG and Total (Maenggoldo Offshore Wind Power Co., Ltd.) announced that they executed the agreement to fully communicate with the Committee, the relevant stakeholder, from the very beginning stage of the development. The agreement aims to specifically define the cooperation methodology to develop an offshore wind project that can co-exist with the fisheries.  Lim Cheon-dong, the chairperson of the Maenggoldo Villagers Committee, said “We launched the committee to deliver the opinions of the residents’ of Maenggoldo to the offshore wind developer and actively participate in the development from the initial stage.  GIG and Total are developing floating offshore wind projects with a total 2.5GW capacity, 1.0GW which in South Jeolla Province and 1.5GW in Ulsan. Through the floating offshore wind projects in Korea, GIG and Total plan to revive the country’s stagnant shipbuilding and marine plant industry and contribute to job creation by closely engage with Korean shipyards, heavy industry companies, and associated small and medium-sized enterprises that possess a competitive edge globally.  Photo 1) GIG and Total (Maenggoldo Offshore Wind Power Co., Ltd.) signed a cooperative agreement with Maenggoldo Villagers Committee.Photo 2) GIG and Total (Maenggoldo Offshore Wind Power Co., Ltd.) signed a cooperative agreement with Maenggoldo Villagers Committee. 

08 February 2021 - A 50/50 joint venture between Macquarie’s Green Investment Group (GIG) and Total has been successful in securing rights to a seabed lease in the Eastern Regions zone in the Crown Estate’s Offshore Wind Leasing Round 4.  The project, which will be located off the UK’s East Anglian coast, could deliver up to 1.5 gigawatts (GW) of renewable electricity and represents a significant early-stage investment in the UK offshore wind sector for both companies. It will also: - Support significant employment opportunities and play a critical role in helping the UK meet its ambitious net zero target. - Enable the two partners to expand in the UK, which is Europe's most mature market for offshore wind and provides steady growth perspectives and a clear route-to-market.  Both GIG and Total are global renewable energy developers and investors and bring significant expertise, technical capability, and a track record in successful energy development to the project. GIG has supported almost 50% of the UK’s offshore wind capacity in operation1. Total continues to build up a strong position in offshore wind after its involvement in the 1.1 GW Seagreen project off the east coast of Scotland and in Erebus, a 96 MW floating offshore wind project in the Celtic Sea, leveraging its long-standing industrial activity in the UK. GIG and Total are currently partnering in South Korea to co-develop a major portfolio of floating offshore wind projects. Julien Pouget, Senior Vice President Renewables, Total, said: "Total is delighted to have been awarded 1.5 GW as part of the 4th Round of offshore wind leases from The Crown Estate with our partner GIG. We continue to support the energy transition goals of the UK. This project is our largest renewables development in Europe to date and an important step toward our 2050 net zero ambition. This success builds on our historical expertise in the UK offshore and is paving the way to expansion of our renewable energy offering in the country in line with our strategy of becoming a broad-energy company." Mark Dooley, Global Head of Green Investment Group, said: "With this investment, we’re continuing our pioneering role in the UK’s energy transition, and helping to establish offshore wind as the backbone of its new low-carbon energy system. Building on our track record as one of the country’s largest funders of offshore wind, this represents a significant increase in our commitment to the UK’s offshore wind sector. This adds to our growing portfolio of renewable developments in Europe and grows our global offshore wind development portfolio to over 13 GW."  Total and GIG were awarded this lease for an annual option fee of £83,000 per MW/year, during the development phase. There will now be a Habitat Regulations Assessment (HRA) of the possible impact of the project on relevant nature conservation sites in the allotted area. Following successful conclusion of that process the final agreements for lease will be signed sometime in 2022.   Photo) A wind-measuring LiDAR installed in Ulsan for GIG and Total's Ulsan floating offshore wind farm development project.