LA DEFENSE (dpa-AFX) - TotalEnergies SE (TTE), a French-integrated energy and petroleum company, announced on Tuesday that it has signed a new deal with European Energy A/S to develop offshore wind projects in Denmark, Finland, and Sweden.
The agreement entails the acquisition by TotalEnergies of an 85 percent stake in the Jammerland Bugt offshore wind project of 240 MW, and a 72.2 percent equity stake in the Lillebaelt South nearshore wind project with 165 MW capacity.
Denmark-based these two projects are expected to obtain final construction permits in mid-2024 and start by 2030.
The electricity generated by these sites will be sold directly on the electricity wholesale market or through Corporate Power Purchase Agreements.
Further, the two companies 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.
Vincent Stoquart, Senior Vice President, Renewables at TotalEnergies, said: 'These new offshore wind projects in Denmark are aligned with our strategy of developing renewable projects in merchant countries at competitive cost. This partnership will allow TotalEnergies to take advantage of European Energy's longstanding presence in northern Europe to expand its business there.'
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