TotalEnergies, European Energy partner to develop three Nordic offshore wind projects

January 24, 2024

(WO) – As part of its integrated development in electricity, TotalEnergies has signed a new agreement with European Energy to develop offshore wind projects in three Nordic countries: Denmark, Finland and Sweden.

405 MW of offshore wind power under development in Denmark. The agreement includes TotalEnergies’ acquisition of a 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 that were 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 offshore 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 will 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.

TotalEnergies and offshore wind. TotalEnergies’ portfolio in offshore wind has a total capacity of more than 16 GW, with most farms bottom-fixed. These projects are located in the United Kingdom (Seagreen, Outer Dowsing, West of Orkney, Erebus), South Korea (Bada), Taiwan (Yunlin, Haiding 2), France (Eolmed), the United States (Attentive Energy and Carolina Long Bay), and Germany (N-12.1 and 0-2.2).