TotalEnergies, European Energy Expand Their Collaboration In Wind Energy

TotalEnergies and European Energy Expand Their Collaboration In Wind

TotalEnergies, a multi-energy company, announced its collaboration with European Energy, which develops and constructs renewable energy projects. It recently signed a new agreement with European Energy to develop offshore wind projects in three Nordic countries: Denmark, Finland and Sweden. This collaboration forms a part of its integrated development in electricity. 

405 MW of offshore wind power under development in Denmark

• The agreement entails’s acquisition by TotalEnergies of 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 projects are located in Denmark.
• Both sites are included in the nine open-door projects 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 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 is expected to 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 a 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 of renewables at TotalEnergies.

“This partnership with TotalEnergies will accelerate Northern Europe’s transition to renewable energy. 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 strengthens our position in the renewable energy sector and underscores our commitment to sustainable development and energy independence in Europe,” said Knud Erik Andersen, Group CEO at European Energy.