TOTALENERGIES SE: Renewables: TotalEnergies and European Energy Expand their Collaboration to Offshore Wind
January 23 2024 - 2:32AM
UK Regulatory
TIDMTTE
As part of its integrated development in electricity,
TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) has signed a new
agreement with European Energy to develop offshore wind projects in
three Nordic countries: Denmark, Finland and Sweden.
405 MW of offshore wind power under development in Denmark
-- The agreement entails the acquisition by TotalEnergies of a 85% equity
stake in the Jammerland Bugt offshore wind project (240 MW) and a 72.2%
equity stake in the Lillebaelt South nearshore wind project (165 MW).
Both projects are located in Denmark.
-- Both sites are included in the nine open-door projects that were
confirmed by the Danish Energy Agency in December 2023 and have obtained
exclusivity and grid connection permits. The final construction permits
are expected in mid-2024, and start up by 2030.
-- The electricity generated by these sites will be sold directly on the
electricity wholesale market or through Corporate Power Purchase
Agreements (CPPAs), enabling them to reduce their carbon footprint.
Joint development for large scale offshore wind projects in
Sweden, Finland, and Denmark
-- The partners also intend to develop and operate new large scale
offshore wind projects in Sweden and Finland through a joint-venture, and
to bid for the upcoming offshore wind tenders in Denmark.
These deals aim to leverage both parties' strengths:
TotalEnergies will contribute its experience in large-scale
projects and its ability to market the offtake in merchant markets.
European Energy has a proven track record in developing greenfield
projects and engaging successfully with stakeholders in these
countries.
This agreement for offshore wind projects follows a previous
agreement between TotalEnergies and European Energy in September
2023 to jointly develop, build and operate onshore renewable
projects in multiple geographies.
"We are delighted to expand our collaboration with European
Energy. These new offshore wind projects in Denmark are aligned
with our strategy of developing renewable projects in merchant
countries at competitive cost. This partnership will allow
TotalEnergies to take advantage of European Energy's longstanding
presence in northern Europe to expand its business there," said
Vincent Stoquart, Senior Vice President, Renewables at
TotalEnergies.
"This partnership with TotalEnergies will accelerate the
renewable energy transition in Northern Europe. Our combined
expertise in developing greenfield projects and TotalEnergies'
experience in large-scale operations will enable us to deliver
state-of-the-art offshore wind facilities. We are excited to
contribute our deep knowledge of the Nordic energy market to this
venture, ensuring the successful realization of these ambitious
projects. This collaboration not only strengthens our position in
the renewable energy sector but also underscores our commitment to
sustainable development and energy independence in Europe," said
Knud Erik Andersen, Group CEO at European Energy.
This agreement is subject to the applicable regulatory approvals
being obtained from the relevant authorities.
***
TotalEnergies and offshore wind
TotalEnergies' portfolio in offshore wind has a total capacity
of more than 16 GW, with most farms bottom-fixed. These projects
are located in the United Kingdom (Seagreen, Outer Dowsing, West of
Orkney, Erebus), South Korea (Bada), Taiwan (Yunlin, Haiding 2),
France (Eolmed), the United States (Attentive Energy and Carolina
Long Bay), and Germany (N-12.1 and 0-2.2).
TotalEnergies and electricity
As part of its ambition to get to net zero by 2050,
TotalEnergies is building a world class cost-competitive portfolio
combining renewables (solar, onshore and offshore wind) and
flexible assets (CCGT, storage) to deliver clean firm power to its
customers. At the end of 2023, TotalEnergies' gross renewable
electricity generation installed capacity was 22 GW. TotalEnergies
will continue to expand this business to reach 35 GW in 2025 and
more than 100 TWh of net electricity production by 2030.
About TotalEnergies
TotalEnergies is a global multi-energy company that produces and
markets energies: oil and biofuels, natural gas and green gases,
renewables and electricity. Our more than 100,000 employees are
committed to energy that is ever more affordable, more sustainable,
more reliable and accessible to as many people as possible. Active
in nearly 130 countries, TotalEnergies puts sustainable development
in all its dimensions at the heart of its projects and operations
to contribute to the well-being of people.
@TotalEnergies l TotalEnergies l TotalEnergies l
TotalEnergies
About European Energy
European Energy was founded in 2004 in Copenhagen. The company
develops and constructs renewable energy projects across the world.
European Energy owns more than 1.4 GW of renewable energy projects
and has more than 60 GW of renewable energy projects in its
pipeline in 28 countries. European Energy is developing a portfolio
of offshore wind projects primarily in the Nordics.
Cautionary Note
The terms "TotalEnergies", "TotalEnergies company" or "Company"
in this document are used to designate TotalEnergies SE and the
consolidated entities that are directly or indirectly controlled by
TotalEnergies SE. Likewise, the words "we", "us" and "our" may also
be used to refer to these entities or to their employees. The
entities in which TotalEnergies SE directly or indirectly owns a
shareholding are separate legal entities. This document may contain
forward-looking information and statements that are based on a
number of economic data and assumptions made in a given economic,
competitive and regulatory environment. They may prove to be
inaccurate in the future and are subject to a number of risk
factors. Neither TotalEnergies SE nor any of its subsidiaries
assumes any obligation to update publicly any forward-looking
information or statement, objectives or trends contained in this
document whether as a result of new information, future events or
otherwise. Information concerning risk factors, that may affect
TotalEnergies' financial results or activities is provided in the
most recent Universal Registration Document, the French-language
version of which is filed by TotalEnergies SE with the French
securities regulator Autorité des Marchés Financiers (AMF), and in
the Form 20-F filed with the United States Securities and Exchange
Commission (SEC).
TotalEnergies Contacts
Media Relations: +33 (0)1 47 44 46 99 l presse@totalenergies.com
l @TotalEnergiesPR
Investor Relations: +33 (0)1 47 44 46 46 l
ir@totalenergies.com
European Energy Contacts
Media Relations: +45 3126 9376 | miol@europeanenergy.com
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SOURCE: TotalEnergies SE
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