Last September, TotalEnergies and European Energy launched a joint venture to develop four GW of onshore renewable energy projects in several unspecified geographical areas.
Now, the parties are expanding their cooperation to include offshore wind. This time, however, the areas are specified, as the projects are planned to be built in Denmark, Finland and Sweden. TotalEnergies and European Energy intend, among other things, to participate in the upcoming offshore wind tenders in Denmark. This is stated by the parties in a press release.
As part of the expanded cooperation, TotalEnergies acquired 85 percent of the shareholding in European Energy's offshore wind project Jammerland Bugt (240 MW) and 72.2 percent of the shareholding in Lillebælt Syd (165 MW), which is a coastal offshore wind project owned by European Energy and the local utility company Sonfor.
Both projects are included in the nine open-door projects that have been confirmed by the Danish Energy Agency in December 2023 and have obtained the first permits from the authorities regarding development and grid connection. The final permits are expected in mid-2024 with start-up in 2030.
- We are pleased to expand our collaboration with European Energy. These new offshore wind projects in Denmark are in line with our strategy for developing renewable energy in commercial markets on market terms. Thanks to this partnership, we can benefit from European Energy's long-standing presence in Northern Europe and expand our business there, says Vincent Stoquart, Senior Vice President for Renewables at TotalEnergies.
Good synergies in collaboration
In particular, European Energy's experience in developing greenfield projects and the good dialogue with stakeholders in the countries in which they operate are highlighted as what Totalengies will gain from the collaboration. But the French energy giant's experience in large-scale projects and ability to market in commercial markets are highlighted as what the French bring to the table.
- Our combined expertise in the development of greenfield projects and TotalEnergies' experience in operating large-scale production will enable us to deliver state-of-the-art offshore wind turbine plants. We are pleased to contribute to the collaboration with our deep knowledge of the Nordic energy market and ensure the successful realization of these ambitious projects, says Knud Erik Andersen, CEO of European Energy.
Sonfor is pleased to have another co-owner in the offshore wind project Lillebælt South.
- There is a strong ownership that now stands behind the offshore wind project Lillebælt South. TotalEnergies has the capacity and financial muscle to build the project, European Energy has many years of experience in developing wind energy projects, and Sonfor ensures the local anchoring of the project, says Ellen Trane Nørby, chairman of Sonfor.
The agreement is subject to approval from the relevant authorities.
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