Germany: TotalEnergies Pursues Its Integrated Power Strategy by Acquiring Renewable Energy Aggregator Quadra Energy
26 Outubro 2023 - 5:29AM
Business Wire
Regulatory News:
TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) has signed
agreements with the Aloys Wobben Foundation (AWS) to acquire the
entire share capital of the German company Quadra Energy. Founded
in 2012 and boasting a “virtual power plant” totaling 9 GW, Quadra
Energy is one of the top 3 aggregators of renewable electricity
production in Germany – the largest power market in Europe with the
highest renewable growth.
Specializing in the aggregation of renewable electricity, Quadra
Energy purchased production from around 5,000 wind and solar power
plants in 2022, and then resold 14 TWh on wholesale markets and to
German resellers and customers. Quadra Energy has also developed
since 2021 a portfolio of medium-term contracts for the purchase of
2 TWh of renewable power and their sale through corporate PPAs.
This acquisition, which is subject to approval by the relevant
authorities, will enable TotalEnergies to further strengthen its
integrated power business in Germany. TotalEnergies will leverage
the extensive expertise of Quadra Energy’s 40 staff members, as
well as its innovative weather-forecasting platform. These assets
will also enable the Company to strengthen its trading capacity on
the intraday markets and to broaden its marketing activities to
offer its German customers competitive corporate PPAs and clean
firm power. Finally, Quadra Energy’s in-depth knowledge of local
renewable developers will also make it easier for TotalEnergies to
develop its own renewable production capacity in the country,
following its successful bid for a 3 GW offshore wind concession in
July.
"We are pleased with the acquisition of Quadra Energy, and I
would like to welcome their teams, who will be an essential
component of our presence in Germany’s electricity market,” said
Stéphane Michel, President Gas, Renewables & Power at
TotalEnergies. "This agreement will enable us to speed up the
development of our Integrated Power activities in the country –
whose electricity market has particularly attractive fundamentals –
in both production, trading, aggregation and marketing of Corporate
PPA and clean firm power. This acquisition thus contributes
positively to our profitability target of 12 % ROACE by 2028 for
this business segment."
***
TotalEnergies and electricity
As part of its ambition to get to net zero by 2050,
TotalEnergies is building a world class cost-competitive portfolio
combining renewables (solar, onshore and offshore wind) and
flexible assets (CCGT, storage) to deliver clean firm power to its
customers. In 2022, TotalEnergies generated more than 33 TWh of
electricity, and had a gross renewable electricity generation
installed capacity of 17 GW. TotalEnergies will continue to expand
this business to grow its power generation to more than 100 TWh by
2030, with the objective of being among the world's top 5 producers
of electricity from wind and solar energy.
About TotalEnergies
TotalEnergies is a global multi-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 energy that is ever more affordable, cleaner, more
reliable and accessible to as many people as possible. Active in
nearly 130 countries, TotalEnergies puts sustainable development in
all its dimensions at the heart of its projects and operations to
contribute to the well-being of people.
@TotalEnergies | TotalEnergies | TotalEnergies
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Cautionary Note
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consolidated entities that are directly or indirectly controlled by
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be used to refer to these entities or to their employees. The
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forward-looking information and statements that are based on a
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factors. Neither TotalEnergies SE nor any of its subsidiaries
assumes any obligation to update publicly any forward-looking
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document whether as a result of new information, future events or
otherwise. Information concerning risk factors, that may affect
TotalEnergies’ financial results or activities is provided in the
most recent Universal Registration Document, the French-language
version of which is filed by TotalEnergies SE with the French
securities regulator Autorité des Marchés Financiers (AMF), and in
the Form 20-F filed with the United States Securities and Exchange
Commission (SEC).
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