Wednesday 17 July 2024
 
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TotalEnergies wins lease in North Sea to develop 1.5GW of offshore wind

PARIS, 24 days ago

TotalEnergies, as shareholder of Offshore Wind One GmbH, has been awarded the maritime concession N-11.2 by the German Federal Network Agency, following auctions held in Germany.
 
Located in the North Sea, around 120 km north-west of the German island of Heligoland, concession N-11.2 (1.5 GW) covers an area of around 156 sq km. This success will enable TotalEnergies to build a 3.5 GW offshore wind hub in German North Sea, taking benefit of the synergies between this new lease and the 2 GW concession N-12.1 won last year, the company said.
 
Under the terms of this award, Offshore Wind One will pay, at the latest in June 2025, the German Federal government €196 million, which will be allocated to marine conservation and the promotion of environmentally friendly fishing. An annual contribution of €88 million will also be paid to the electricity transmission system operator in charge of connecting the project, for a term of twenty years starting from the commissioning of the site.
 
The concession will run for a term of 25 years, extendable to 35 years.
 
“Building upon the successful award of concession N-12.1 in the German North Sea last year, the award of the N-11.2 site will enable TotalEnergies to establish a 3.5 GW offshore wind energy hub, building on the quality of both sites and taking advantage of the development and operational synergies between them. This marks a new step for the deployment of TotalEnergies Integrated Power strategy in Germany after the acquisition of Quadra Energy, one of the top 3 aggregators of renewable electricity production and of Kyon Energy, a prominent developer of battery storage solutions. TotalEnergies is also very pleased to contribute to Germany’s decarbonisation targets,” said Stéphane Michel, President Gas Renewable and Power of TotalEnergies. - TradeArabia News Service
 



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