TotalEnergies has partnered with RWE to Acquire a 50 percent stake in two offshore wind projects in the German Coast.
Takeaway Points
- TotalEnergies partners with RWE to acquire a 50 percent stake in two offshore wind projects in the North Sea.
- These two projects were awarded to RWE in Aug 2024 and have 25-year licenses extendable to 35 years.
- Investment decisions are expected to be taken by 2027 (N-9.1) and 2028 (N-9.2), respectively.
Why did TotalEnergies partner with RWE?
TotalEnergies said on Monday that it has signed an agreement with RWE to acquire a 50 percent stake in two offshore wind projects in the North Sea. These two projects, N-9.1 (2 GW) and N-9.2 (2 GW), located 110 km off the German coast, were awarded to RWE in Aug 2024 and have 25-year licenses extendable to 35 years.
Olivier Jouny, SVP Renewables at TotalEnergies, said, “We are pleased to strengthen our ties with RWE, a key player in renewables and our partner in OranjeWind project in the Netherlands. This new partnership contributes to our integrated development in the German electricity market, the largest in Europe, and will enable TotalEnergies to provide green electrons to decarbonize the country’s electricity and industry.”
Sven Utermöhlen, CEO of RWE Offshore Wind, said, “We are delighted to welcome TotalEnergies onboard as our partner in the delivery of these large-scale offshore wind projects in our home market of Germany. As a trusted partner in our Dutch offshore wind project OranjeWind, TotalEnergies shares our ambition to further drive the growth of offshore wind energy to accelerate the energy transition in Germany and beyond. Our RWE teams will bring their many years of experience in the offshore wind industry and in-depth knowledge of the offshore wind industry to successfully develop and build the two wind farms.”
The Two Offshore Wind Projects
RWE said that the sites are located approximately 110 to 115 kilometers north-west of the German island of Borkum; sites N-9.1 and N-9.2 are large enough to accommodate offshore wind farms with a total capacity of 2,000 megawatts each. Investment decisions are expected to be taken by 2027 (N-9.1) and 2028 (N-9.2), respectively. Subject to the necessary permits and confirmation of grid connection, offshore construction could start in 2029 and 2030, with full commissioning planned for 2031 and 2032, respectively.
About TotalEnergies
TotalEnergies is a global integrated energy company that produces and markets energies: oil and biofuels, natural gas and green gases, renewables and electricity. Our more than 100,000 employees are committed to provide as many people as possible with energy that is more reliable, more affordable and more sustainable. Active in about 120 countries, TotalEnergies places sustainability at the heart of its strategy, its projects and its operations.
About RWE Offshore Wind GmbH
RWE Offshore Wind GmbH is a global energy company for sustainable power generation based on offshore wind power. The portfolio of RWE Offshore Wind GmbH covers wind turbines that are installed on the seabed as well as modern floating wind turbines. In terms of the total capacity of offshore wind power, the company ranks second worldwide. RWE Offshore Wind GmbH operates as a direct subsidiary of RWE AG. The company emerged from the former RWE Renewables GmbH, which was founded in 2019 and later split up into separate companies for each of the renewable technologies.
