A Total gas station. Photo: Pascal Le Segretain/Getty Images

The oil-and-gas giant Total said Thursday it's acquiring an 80% stake in a planned floating wind project off the coast of Wales.

The state of play: Total said the deal with the developer Simply Blue Energy will make it one of the "first movers in this technology in the UK, the world’s largest offshore wind market."

  • The France-based multinational giant said it sees lots of potential in floating, as opposed to fixed-bottom, projects because they enable access to sites further offshore with strong winds.
  • Terms of the deal around the planned 96-megawatt Erebus project were not disclosed.

Meanwhile, solar company Lightsource BP — which BP half-owns — also said Thursday that it has completed a $250 million financing package for a 260-megawatt project 120 miles northeast of Dallas, Texas.

Why it matters: BP said the deal's structure shows solar's competitiveness and will leverage the company's other capabilities.

  • The power from the Lightsource BP project will be traded through a long-term agreement with BP.
  • "By ensuring a long-term price for the power BP ensures the project can be financed upfront," a project representative tells Axios.

The big picture: BP's incoming executive VP for low-carbon energy, Dev Sanyal, said in a statement that "power offtake structures widely and historically used for conventional generation are now gaining traction for solar energy projects."

  • HSBC Bank USA, National Westminster Bank PLC and Bank of America were all involved in the financing.

Go deeper: Climate activists target Amazon, Google and Microsoft

Go deeper

Updated 15 mins ago - Politics & Policy

Biden enters final stretch with huge cash advantage over Trump

Democratic presidential nominee Joe Biden in Wilmington, Delaware, on Monday. Photo: Drew Angerer/Getty Images

Democratic presidential nominee Joe Biden had $177.3 million in the bank at the end of September, per the latest Federal Election Commission filings.

Why it matters: President Trump's re-election campaign reported having $63.1 million in the bank at the end of last month.

Updated 28 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Aïda Amer/Axios

  1. Politics: Americans feel Trump's sickness makes him harder to trustFlorida breaks record for in-person early voting — McConnell urges White House not to strike stimulus deal before election — Republican senators defend Fauci as Trump escalates attacks.
  2. Health: The next wave is gaining steam.
  3. Education: Schools haven't become hotspots — University of Michigan students ordered to shelter-in-place.
  4. World: Ireland moving back into lockdown — Argentina becomes 5th country to report 1 million infections.

Court allows North Carolina mail-in ballots deadline extension

An absentee ballot election worker stuffs ballot applications at the Mecklenburg County Board of Elections office in Charlotte, North Carolina, in September. Photo: Logan Cyrus/AFP via Getty Images

North Carolina can accept absentee ballots that are postmarked Nov. 3 on Election Day until Nov. 12, a federal appeals court decided Tuesday in a 12-3 majority ruling.

Why it matters: The 4th Circuit Court of Appeals' ruling against state and national Republican leaders settles a lawsuit brought by a group representing retirees, and it could see scores of additional votes counted in the key battleground state.

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