REG-TotalEnergies SE TotalEnergies and European Energy to Partner on Renewable Projects in Multiple Geographies

TotalEnergies SEAnnouncement

20/09/2023 10:00

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TotalEnergies and European Energy to Partner on Renewable Projects in Multiple
Geographies

 

TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) and European Energy have agreed
to jointly develop, build and operate in a 65/35 joint-venture at least four
GW of onshore renewable projects in multiple geographies.

The partnership aims to leverage both parties’ strengths: TotalEnergies
brings its strong experience in the construction and operation of large-scale
projects coupled with its capability to market the offtake in merchant
countries and its financial robustness. European Energy has a proven track
record in developing greenfield projects and engaging successfully with
stakeholders.

“We are delighted to enter into this agreement with European Energy which
has developed a portfolio of asset in merchant countries such or Spain where
TotalEnergies is already active, and which will enable us to accelerate our
profitable growth. This cooperation will build on the strength and
complementarity of both companies to bring value to these markets where our
integrated power strategy makes a lot of sense.” said Vincent Stoquart,
Senior Vice President, Renewables at TotalEnergies.

“The strategic cooperation that we will enter into with TotalEnergies is a
decisive step in moving forward the green transition. With our extensive
development pipeline and experience in developing green field renewable
projects and TotalEnergies’ experience and ambitions on renewable energy
onshore and offshore, this partnership sets a new milestone for the further
acceleration of the growth of our renewable energy capacity around the world,
said Knud Erik Andersen, Group CEO at European Energy.

This agreement is subject to the receipt of applicable regulatory approvals
from relevant authorities.

***

TotalEnergies and renewables electricity

As part of its ambition to get to net zero by 2050, TotalEnergies is building
a portfolio of activities in electricity and renewables. At the end of July
2023, TotalEnergies' gross renewable electricity generation installed capacity
was 19 GW. TotalEnergies will continue to expand this business to reach 35 GW
of gross production capacity from renewable sources and storage by 2025, and
then 100 GW 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 more than 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.

European Energy and offshore wind

European Energy is developing a portfolio of offshore wind projects primarily
in the Nordics.

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.

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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).

European Energy 

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

Investor Relations: +45 20 10 39 79 | investor.relations@europeanenergy.com
(mailto:investor.relations@europeanenergy.com)

TotalEnergies 

Media Relations: +33 1 47 44 46 99 | presse@totalenergies.com
(mailto:presse@totalenergies.com) | @TotalEnergiesPR

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



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