TotalEnergies, European Energy to Develop Offshore Wind Projects in Denmark, Finland and Sweden
January 23 2024 - 2:14AM
Dow Jones News
By Pierre Bertrand
TotalEnergies signed a new agreement with European Energy for
the development of offshore wind projects in Denmark, Finland and
Sweden.
Under the agreement, the French oil and gas major will acquire a
respective 85% and 72.2% stake in the Jammerland Bugt offshore and
Lillebaelt South nearshore wind projects in Denmark.
TotalEnergies didn't disclose financial details.
The final construction permits for both projects are expected in
mid-2024, with start up expected by 2030.
The company said the 240 megawatts and the 165 megawatts from
the Jammerland Bugt and the Lillebaelt South projects,
respectively, will be directly sold on the electricity wholesale
market or through corporate power purchase agreements.
TotalEnergies and European Energy 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."
This agreement follows a previous agreement from September
between TotalEnergies and the renewable energy project developer,
European Energy, to jointly develop, build and operate onshore
renewable projects.
Write to Pierre Bertrand at pierre.bertrand@wsj.com
(END) Dow Jones Newswires
January 23, 2024 02:59 ET (07:59 GMT)
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