REG-TotalEnergies SE Netherlands: TotalEnergies Acquires a Stake in the OranjeWind Offshore Wind Farm in View of Supplying Green Hydrogen to Its European Refineries and Lowering Their Emissions

TotalEnergies SEAnnouncement

24/07/2024 15:15

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Netherlands: TotalEnergies Acquires a Stake in the OranjeWind Offshore Wind
Farm in View of Supplying Green Hydrogen to Its European Refineries and
Lowering Their Emissions

 

TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) today signed agreements with
German renewable developer RWE, to acquire a 50% stake in OranjeWind, a 795 MW
offshore wind farm under development in the Netherlands. TotalEnergies will
dedicate its share of the renewable electricity production from this project
to power 350 MW electrolyzer projects. These will produce about 40,000 tons
per year of green hydrogen for the decarbonization of TotalEnergies’
refineries in Northern Europe.

Producing green hydrogen to decarbonize our refineries

TotalEnergies plans to decarbonize its European refineries’ hydrogen and cut
its CO₂ emissions by around 5 million tons per year by 2030. In this
context, the Company intends to allocate its share in OranjeWind to produce
electricity to generate green hydrogen via electrolysis. The production of
this green or low-carbon hydrogen, which will replace the hydrogen currently
consumed in TotalEnergies' refineries, will avoid the emission of
approximately 400,000 tons of CO₂ per year.

The project is a new milestone towards TotalEnergies’ goal of a 40%
reduction in net greenhouse gas emissions linked directly to its oil and gas
operations (Scope 1 and 2) by 2030, compared to the 2015 baseline.

OranjeWind, an integrated, innovative offshore wind project

Located in the North Sea, about 53 km off the Dutch coast, the OranjeWind
project was won by RWE in 2022 as part of the Dutch Hollandse Kust West VII
tender. RWE then committed to developing electrolyzers, to which TotalEnergies
will now also contribute.

In addition to producing green power and hydrogen, OranjeWind will also
support the stability of the Dutch grid with its electric boilers and battery
storage. Construction of the wind farm is scheduled to start in 2026, with
full commissioning expected in early 2028.

"We are delighted to working with RWE, a major player in renewables, on a
project that will enable us to develop production of green hydrogen, which we
need to decarbonize our refineries in northern Europe. This integrated,
innovative project perfectly illustrates our pioneering role in the energy
transition in Europe, especially through the emergence of offshore wind power
linked to green hydrogen electrolyzers in the Netherlands," said Stephane
Michel, President Gaz Renewables & Power and Bernard Pinatel, President,
Refining & Chemicals, TotalEnergies.

“The Netherlands is one of our strategic core markets to grow our green
portfolio. In TotalEnergies I am delighted to have a strong partner at our
side with whom we can realize our first offshore wind project in the
Netherlands and at the same time unlock the full system integration of
OranjeWind. Together, we will provide a blueprint for the Dutch energy system
of the future, designed to tackle the challenges of intermittent wind
generation and flexible energy demand. As key players in the Dutch energy
market, we are both committed to helping the Netherlands meet its
decarbonization targets,” said Sven Utermöhlen, CEO RWE Offshore Wind

***

About RWE

RWE is leading the way to a green energy world. With its investment and growth
strategy Growing Green, RWE is contributing significantly to the success of
the energy transition and the decarbonisation of the energy system. Around
20,000 employees work for the company in almost 30 countries worldwide. RWE is
already one of the leading companies in the field of renewable energy. Between
2024 and 2030, RWE will invest 55 billion euros worldwide in offshore and
onshore wind, solar energy, batteries, flexible generation, and hydrogen
projects. By the end of the decade, the company’s green portfolio will grow
to more than 65 gigawatts of generation capacity, which will be perfectly
complemented by global energy trading. RWE is decarbonising its business in
line with the 1.5-degree reduction pathway and will phase out coal by 2030.
RWE will be net-zero by 2040. Fully in line with the company’s purpose - Our
energy for a sustainable life.

About RWE and offshore wind

RWE is one of the world’s leading players in offshore wind with 19 offshore
wind farms in operation. Beside OranjeWind the company is currently
constructing three large-scale offshore wind farms: the 1.4-GW Sofia project
off the UK’s east coast, the 1.1-GW Thor wind farm off the Danish coast and
the Nordseecluster with a total capacity of 1.6 GW north of the German island
of Juist. RWE aims to triple its global offshore wind capacity from 3.3 GW
currently to 10 GW by 2030.

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.

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-12.1,0-2.2 and N-11.2).

About TotalEnergies

TotalEnergies is a global integrated 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 provide as many
people as possible with energy that is more reliable, more affordable and more
sustainable. Active in about 120 countries, TotalEnergies places
sustainability at the heart of its strategy, its projects and its operations.

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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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