TotalEnergies has solidified its commitment to renewable energy with a new partnership with European Energy, aimed at developing offshore wind projects across three Nordic countries: Denmark, Finland, and Sweden. The agreement marks a significant step in the companies' integrated development strategy for electricity.
In Denmark, TotalEnergies is set to acquire an 85% equity stake in the Jammerland Bugt offshore wind project, with a capacity of 240 MW, and a 72.2% equity stake in the Lillebaelt South nearshore wind project, boasting 165 MW. These projects, included in Denmark's open-door initiatives, are expected to obtain final construction permits by mid-2024 and commence operations by 2030, contributing to carbon footprint reduction.
Moreover, the collaboration extends beyond Denmark, with plans to jointly develop and operate large-scale offshore wind projects in Sweden and Finland. Additionally, the partners aim to participate in upcoming offshore wind tenders in Denmark, leveraging TotalEnergies' expertise in large-scale projects and European Energy's prowess in greenfield project development and stakeholder engagement.
Vincent Stoquart, Senior Vice President of Renewables at TotalEnergies, expressed enthusiasm about expanding their collaboration, stating it aligns with their strategy of developing renewable projects in competitive merchant markets. Knud Erik Andersen, Group CEO at European Energy, echoed this sentiment, highlighting their joint commitment to accelerating the renewable energy transition in Northern Europe and contributing to sustainable development.
The agreement is pending regulatory approvals but represents a significant milestone in the renewable energy landscape of the Nordic region, signaling a promising future for offshore wind energy and sustainable development initiatives.
Source: energyindustryreview.com