TotalEnergies, European Energy Reveal Joint Offshore Wind Plans in Nordics

Business & Finance

January 23, 2024, by Adrijana Buljan

TotalEnergies and European Energy have entered into a partnership to develop offshore wind projects in Denmark, Finland and Sweden. The tie-up will see TotalEnergies acquiring stakes in European Energy’s two Danish offshore wind farms and the partners bidding jointly in the upcoming tenders in Denmark.

Under an agreement the two companies signed, TotalEnergies will take an 85 per cent equity stake in the 240 MW Jammerland Bugt offshore wind project and a 72.2 per cent equity stake in the 165 MW Lillebaelt South nearshore wind project, both included in the nine open-door projects that were confirmed by the Danish Energy Agency in December 2023.

The two offshore wind farms, planned to be up and running by 2030, have obtained exclusivity and grid connection permits, with the final construction permits expected in mid-2024.

In Denmark, TotalEnergies and European Energy also plan to bid in the upcoming offshore wind tenders.

The partners have also revealed plans for two more Nordic countries, Sweden and Finland, where they intend to develop and operate new large-scale offshore wind projects through a joint venture.

This agreement, subject to regulatory approvals, follows an agreement TotalEnergies and European Energy signed in September 2023 to jointly develop, build and operate onshore renewable projects in multiple geographies.