TotalEnergies has signed a new agreement with European Energy to develop offshore wind projects in three Nordic countries: Denmark, Finland and Sweden.
The agreement entails the acquisition by TotalEnergies of 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). 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).
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. 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.
