By TotalEnergies, a leading French oil and gas company, has entered into a new agreement with European Energy to develop offshore wind projects in Denmark, Finland, and Sweden. This strategic collaboration will strengthen TotalEnergies’ presence in the renewable energy sector.
In Denmark, TotalEnergies will acquire an 85% stake in the Jammerland Bugt offshore and a 72.2% stake in the Lillebaelt South nearshore wind projects. The financial details of the transaction remain undisclosed. The construction permits for both projects are expected to be finalized by mid-2024, with operations scheduled to commence by 2030.
The Jammerland Bugt and Lillebaelt South projects will have a combined capacity of 240 megawatts and 165 megawatts, respectively. The electricity generated from these projects will be sold either directly on the wholesale market or through corporate power purchase agreements.
Furthermore, TotalEnergies aims to collaborate with European Energy to develop and operate large-scale offshore wind projects in Sweden and Finland through a joint venture. Additionally, the companies plan to participate in upcoming offshore wind tenders in Denmark.
This latest agreement builds upon a previous collaboration between TotalEnergies and European Energy, which focused on the development, construction, and operation of onshore renewable projects.
TotalEnergies’ diversification into offshore wind projects is a testament to its commitment to sustainable energy solutions. With this expansion, the company is poised to make significant contributions to the global transition to renewable sources of power.
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