TotalEnergies Partnered with European Energy on Renewable Projects

SEATTLE (Oil Monster): TotalEnergies announced partnership with European Energy on joint development and operation of renewable projects in various geographies across the globe. The partnership agreement is subject to necessary approvals from regulatory authorities.

The joint venture will be 65% owned by TotalEnergies, with European Energy owning the remaining 35% interest. It will collaborate on developing nearly 4 gigawatts (GW) of onshore renewable projects.

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The partnership aims to tap the strengths of both the members. It will combine TotalEnergies’ expertise in construction and operation of large-scale projects and marketing capabilities and European Energy’s proven track record in developing greenfield projects.

Commenting on the development, Vincent Stoquart, Senior Vice President, Renewables at TotalEnergies stated that the partnership will help the company to accelerate its profitable growth in merchant countries such as Spain where it already has active presence. It will build on the strength and complementarity of both the companies, he added.

Knud Erik Andersen, Group CEO at European Energy said that the strategic cooperation with TotalEnergies is an important step in advancing the green transition. The partnership will further accelerate the growth of its global renewable energy capacity, he added.