Stake Transaction

In 2024, PTTEP joined the Seagreen Offshore Wind Farm consortium, marking a significant change in the project’s equity ownership structure. The official Seagreen project website now describes the wind farm as a joint venture between SSE Renewables, TotalEnergies and PTTEP, with respective ownership stakes of 49%, 25.5% and 25.5%. The wording that PTTEP “joined the consortium in 2024” implies that an equity stake in the project was transferred or created for PTTEP at that time, bringing the Thai upstream company in as a full joint venture partner in the operational Scottish offshore wind farm. Although the source does not specify the transaction mechanism, counterparty, or financial terms, it clearly establishes PTTEP as a shareholder alongside the existing European partners. SSE Renewables is identified as having led the development and construction of Seagreen and continues to act as operator, supported by TotalEnergies, while PTTEP’s role is presented in terms of joint venture ownership rather than operational responsibility. The updated partner listing and explicit reference to PTTEP’s 2024 entry indicate that the project’s long-term ownership and risk-sharing arrangements were rebalanced following commissioning and full operation of the 1,075 MW wind farm. This ownership configuration underpins the consortium’s ongoing management of the asset, including revenue sharing and strategic decisions over the remaining consented but not yet constructed turbines and associated grid connection plans.