TotalEnergies Acquires Stakes in Nordic Offshore Wind Projects
TotalEnergies’ Expansion Into Nordic Offshore Wind Market
TotalEnergies, Paris & Copenhagen-based energy giant, has expanded its footprint in the Nordic offshore wind market through the acquisition of significant stakes in two Danish offshore wind projects. The company plans to develop large-scale wind farms across Denmark, Finland, and Sweden in partnership with European Energy. This strategic move aligns with TotalEnergies’ commitment to enhancing its renewable energy portfolio in merchant markets at a competitive cost.
Danish Offshore Wind Project Acquisitions and Future Plans
TotalEnergies has obtained an 85% equity stake in the 240 MW Jammerland Bugt offshore wind project and a 72.2% stake in the 165 MW Lillebaelt South nearshore wind project in Denmark. These projects, confirmed by the Danish Energy Agency in December 2023, have secured exclusivity and grid connection permits. Final construction permits are expected by mid-2024, with operations commencing by 2030. The electricity generated from these projects will be sold on the wholesale market or through Corporate Power Purchase Agreements (CPPAs), enabling corporate buyers to reduce their carbon footprint.
Expansion Into Sweden and Finland
TotalEnergies and European Energy are set to jointly develop and operate new offshore wind projects in Sweden and Finland. They also aim to participate in upcoming Danish offshore wind tenders, leveraging TotalEnergies’ expertise in managing large-scale projects and European Energy’s track record in greenfield project development and stakeholder engagement.
Onshore Renewable Projects and Future Plans
Furthermore, TotalEnergies is listed with additional tips on InvestingPro, offering up to 50% off subscriptions. Investors can use the coupon code SFY24 or SFY241 for additional discounts on subscriptions.
Overall, TotalEnergies is making significant strides in expanding its renewable energy footprint and leveraging strategic partnerships to drive the transition towards a more sustainable energy landscape.
