TotalEnergies to Buy 50% Stake in RWE Offshore Wind Projects
By Christian Moess Laursen
European energy majors TotalEnergies and RWE agreed to jointly develop two large offshore wind projects with a total capacity of four gigawatts.
TotalEnergies, the French oil-and-gas giant, will acquire a 50% stake in both projects from RWE, which is one of the world's largest wind-power generation companies, for an undisclosed sum.
The projects are located 110 kilometers off Germany's northwestern coast. The companies will take the final investment decisions on the two projects by 2027 and 2028.
If greenlighted, construction will in 2029 and 2030, with full commissioning planned for 2031 and 2032, respectively.
Write to Christian Moess Laursen at christian.moess@wsj.com
(END) Dow Jones Newswires
October 07, 2024 04:42 ET (08:42 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.-
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