TotalEnergies and European Power have entered right into a partnership to develop offshore wind initiatives in Denmark, Finland and Sweden. The tie-up will see TotalEnergies buying stakes in European Power’s two Danish offshore wind farms and the companions bidding collectively within the upcoming tenders in Denmark.
Underneath an settlement the 2 firms signed, TotalEnergies will take an 85 per cent fairness stake within the 240 MW Jammerland Bugt offshore wind mission and a 72.2 per cent fairness stake within the 165 MW Lillebaelt South nearshore wind mission, each included within the 9 open-door initiatives that have been confirmed by the Danish Power Company in December 2023.
The 2 offshore wind farms, deliberate to be up and operating by 2030, have obtained exclusivity and grid connection permits, with the ultimate development permits anticipated in mid-2024.
In Denmark, TotalEnergies and European Power additionally plan to bid within the upcoming offshore wind tenders.
The companions have additionally revealed plans for 2 extra Nordic international locations, Sweden and Finland, the place they intend to develop and function new large-scale offshore wind initiatives by way of a three way partnership.
This settlement, topic to regulatory approvals, follows an settlement TotalEnergies and European Power signed in September 2023 to collectively develop, construct and function onshore renewable initiatives in a number of geographies.
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