REG-TotalEnergies SE Renewables: TotalEnergies and European Energy Expand their Collaboration to Offshore Wind

TotalEnergies SEAnnouncement

23/01/2024 07:45

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20240123:nBw9z2FYha&default-theme=true


Renewables: TotalEnergies and European Energy Expand their Collaboration to
Offshore Wind

 

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
(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Ftwitter.com%2FTotalEnergies&esheet=53886660&newsitemid=20240122639067&lan=en-US&anchor=%40TotalEnergies&index=1&md5=42f0bc99a9c574fce72617f52166a6b9)
l TotalEnergies
(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.linkedin.com%2Fcompany%2Ftotalenergies%2F&esheet=53886660&newsitemid=20240122639067&lan=en-US&anchor=TotalEnergies&index=2&md5=412a3c08105b5b40a078bafabe6a56f7)
l TotalEnergies
(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.facebook.com%2FTotalEnergiesFrance%2F&esheet=53886660&newsitemid=20240122639067&lan=en-US&anchor=TotalEnergies&index=3&md5=0e772e41acf620acef073dd80cf97bde)
l TotalEnergies
(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.instagram.com%2Ftotalenergies%2F&esheet=53886660&newsitemid=20240122639067&lan=en-US&anchor=TotalEnergies&index=4&md5=5171e4f73934104c282cd1a6d5425310)

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
(mailto:presse@totalenergies.com) l @TotalEnergiesPR 
(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Ftwitter.com%2FTotalEnergiesPR&esheet=53886660&newsitemid=20240122639067&lan=en-US&anchor=%40TotalEnergiesPR&index=5&md5=0a900f154ea4a944fd8cddc426c6f0e0)

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

European Energy Contacts

Media Relations: +45 3126 9376 | miol@europeanenergy.com
(mailto:miol@europeanenergy.com)



View source version on businesswire.com:
https://www.businesswire.com/news/home/20240122639067/en/
(https://www.businesswire.com/news/home/20240122639067/en/)

TotalEnergies


Copyright Business Wire 2024