TotalEnergies Signs Agreement with RWE to Acquire Stake in Offshore Wind Projects
TotalEnergies has made a significant move in the renewable energy sector by signing an agreement with RWE to acquire a 50% stake in two offshore wind projects in the North Sea. These projects, known as N-9.1 and N-9.2, are set to deliver a total of 4 GW of clean energy, positioned 110 km off the German coast. With 25-year licenses that can be extended to 35 years, these projects mark a pivotal step towards sustainable energy generation.
This partnership adds to TotalEnergies’ existing portfolio, including other concessions like N-12.1, N-11.2, and O-2.2, setting the stage for the company to benefit from synergies and enhance operational efficiency. The goal is to establish a 6.5 GW German offshore wind hub that optimizes construction and operation costs.
Olivier Jouny, Senior Vice President of Renewables at TotalEnergies, stated, “We are pleased to strengthen our ties with RWE and contribute to the development of the German electricity market, enabling us to provide green electrons to decarbonize the country’s electricity and industry.”
Sven Utermöhlen, CEO of RWE Offshore Wind, commented, “We are delighted to welcome TotalEnergies as our partner in driving the growth of offshore wind energy in Germany. Together, we aim to accelerate the energy transition and successfully develop and build these two large-scale wind farms.”
With preliminary studies already conducted by the German Federal Maritime and Hydrographic Agency, both companies are gearing up for the construction and commissioning of the offshore wind projects by 2031 and 2032 respectively.
TotalEnergies and its Renewable Energy Vision
In line with its commitment to achieving net zero emissions by 2050, TotalEnergies has been expanding its renewable energy portfolio. The company’s gross renewable electricity generation capacity has reached 24 GW by mid-2024, with plans to reach 35 GW by 2025 and over 100 TWh of net electricity production by 2030.
TotalEnergies’ Impressive Offshore Wind Portfolio
TotalEnergies’ offshore wind projects span across various countries, with a total capacity of over 17 GW. The company’s focus on developing bottom-fixed offshore wind farms in regions like the UK, South Korea, Taiwan, France, the US, the Netherlands, and Germany highlights its global commitment to sustainable energy.
About TotalEnergies
TotalEnergies is a global integrated energy company that produces and markets a diverse range of energies, with sustainability at the core of its operations. With a presence in over 120 countries, the company is dedicated to providing reliable, affordable, and sustainable energy solutions to communities worldwide.