Friday 26 January 2024

TotalEnergies and European Energy expand wind partnership

TotalEnergies and European Energy have strengthened their collaboration by signing an agreement to develop offshore wind projects in Denmark, Finland and Sweden.

TotalEnergies will acquire an 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 situated in Denmark.

These projects, part of the nine open-door projects confirmed by the Danish Energy Agency, are set to obtain construction permits in mid-2024, with operations beginning by 2030.

Additionally, the partnership aims to establish a joint venture to develop and operate large scale offshore wind projects in Sweden and Finland.

They also plan to participate in upcoming offshore wind tenders in Denmark.

This collaboration builds upon a previous agreement in September 2023 for onshore renewable projects.

Vincent Stoquart, Senior Vice President, Renewables at TotalEnergies, said: "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."