Expanding Wind Projects in Denmark: A Significant Milestone
TotalEnergies and European Energy have inked a pivotal agreement to bolster their collaboration in offshore wind projects across Denmark, Finland, and Sweden. TotalEnergies is set to acquire an 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) in Denmark. These projects, part of the nine confirmed open-door projects by the Danish Energy Agency, are poised to play a crucial role in the transition to renewable energy.
Anticipated Timeline and Carbon Footprint Reduction
Both the Jammerland Bugt and Lillebaelt South projects have obtained exclusivity and grid connection permits, with final construction permits expected by mid-2024. The electricity generated by these projects will be strategically sold in the electricity wholesale market or through Corporate Power Purchase Agreements (CPPAs), contributing significantly to carbon footprint reduction. The operational phase is scheduled to commence by 2030.
Joint Development Initiatives in Sweden, Finland, and Denmark
In addition to the Danish projects, TotalEnergies and European Energy are poised to embark on a joint venture, aiming to develop and operate large-scale offshore wind projects in Sweden and Finland. The collaboration extends to participating in upcoming offshore wind tenders in Denmark. The synergy leverages TotalEnergies’ prowess in large-scale project development and market reach, complemented by European Energy’s successful track record in greenfield project development and stakeholder engagement in Nordic countries.
Strategic Alignment and Future Prospects
Vincent Stoquart, Senior Vice President of Renewables at TotalEnergies, expressed enthusiasm about the expansion, emphasizing the strategic alignment with their goal of developing cost-competitive renewable projects in merchant countries. Knud Erik Andersen, Group CEO at European Energy, highlighted the partnership’s potential to accelerate the renewable energy transition in Northern Europe, underscoring their commitment to sustainable development and energy independence.
This offshore wind collaboration builds upon a previous agreement between TotalEnergies and European Energy in September 2023 for the joint development of onshore renewable projects in multiple geographies.
Source：businesswire.com
