REG-TotalEnergies SE Germany: TotalEnergies Pursues Its Integrated Power Strategy by Acquiring Renewable Energy Aggregator Quadra Energy

TotalEnergies SEAnnouncement

26/10/2023 09:30

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Germany: TotalEnergies Pursues Its Integrated Power Strategy by Acquiring
Renewable Energy Aggregator Quadra Energy

 

TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) has signed agreements with the
Aloys Wobben Foundation (AWS) to acquire the entire share capital of the
German company Quadra Energy. Founded in 2012 and boasting a “virtual power
plant” totaling 9 GW, Quadra Energy is one of the top 3 aggregators of
renewable electricity production in Germany – the largest power market in
Europe with the highest renewable growth.

Specializing in the aggregation of renewable electricity, Quadra Energy
purchased production from around 5,000 wind and solar power plants in 2022,
and then resold 14 TWh on wholesale markets and to German resellers and
customers. Quadra Energy has also developed since 2021 a portfolio of
medium-term contracts for the purchase of 2 TWh of renewable power and their
sale through corporate PPAs.

This acquisition, which is subject to approval by the relevant authorities,
will enable TotalEnergies to further strengthen its integrated power business
in Germany. TotalEnergies will leverage the extensive expertise of Quadra
Energy’s 40 staff members, as well as its innovative weather-forecasting
platform. These assets will also enable the Company to strengthen its trading
capacity on the intraday markets and to broaden its marketing activities to
offer its German customers competitive corporate PPAs and clean firm power.
Finally, Quadra Energy’s in-depth knowledge of local renewable developers
will also make it easier for TotalEnergies to develop its own renewable
production capacity in the country, following its successful bid for a 3 GW
offshore wind concession in July.

"We are pleased with the acquisition of Quadra Energy, and I would like to
welcome their teams, who will be an essential component of our presence in
Germany’s electricity market,” said Stéphane Michel, President Gas,
Renewables & Power at TotalEnergies. "This agreement will enable us to
speed up the development of our Integrated Power activities in the country –
whose electricity market has particularly attractive fundamentals – in both
production, trading, aggregation and marketing of Corporate PPA and clean firm
power. This acquisition thus contributes positively to our profitability
target of 12 % ROACE by 2028 for this business segment."

***

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. In 2022, TotalEnergies generated more than 33 TWh of
electricity, and had a gross renewable electricity generation installed
capacity of 17 GW. TotalEnergies will continue to expand this business to grow
its power generation to more than 100 TWh by 2030, with the objective of being
among the world's top 5 producers of electricity from wind and solar energy.

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, cleaner, 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 Contacts

Media Relations: +33 (0)1 47 44 46 99 l presse@totalenergies.com
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Investor Relations: +33 (0)1 47 44 46 46 l ir@totalenergies.com
(mailto:ir@totalenergies.com)

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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).



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