TotalEnergies Strengthens Position in Europe’s Largest Power Market with Quadra Energy Purchase

Posted on 26, October 2023 by | This entry was posted in Business, Energy, Gas & Oil, France, Germany, Industrial, Infrastructure & Utilities and tagged , , , , , , , , , . Bookmark the permalink.

TotalEnergies Strengthens Position in Europe’s Largest Power Market with Quadra Energy Purchase

(IN BRIEF) TotalEnergies has signed agreements to acquire Quadra Energy, a major player in the German renewable energy sector. Quadra Energy, with its 9 GW “virtual power plant,” is one of the top aggregators of renewable electricity in Germany. In 2022, they purchased power from 5,000 wind and solar plants, reselling 14 TWh to wholesale markets and German customers. This acquisition, pending regulatory approval, will strengthen TotalEnergies’ presence in Germany’s renewable energy market. It will leverage Quadra Energy’s expertise, weather-forecasting platform, and local developer connections to expand its clean energy offerings and trading capacity. TotalEnergies’ commitment to renewable energy in Germany is further demonstrated by its successful bid for a 3 GW offshore wind concession in July.

(PRESS RELEASE) PARIS, 26-Oct-2023 — /EuropaWire/ — TotalEnergies (EPA:TTE), a global multi-energy company with over 100,000 employees and presence in more than 130 countries as well as the world’s 3rd-largest low-carbon LNG company, is pleased to announce its recent agreements with the Aloys Wobben Foundation (AWS) to acquire the entire share capital of Quadra Energy, a leading German company in the renewable energy sector. The acquisition, which is subject to approval by the relevant authorities, marks a significant milestone in TotalEnergies’ commitment to bolstering its integrated power business in Germany, the largest power market in Europe with a rapidly growing renewable energy sector.

Founded in 2012, Quadra Energy has earned its reputation as one of the top three aggregators of renewable electricity production in Germany. The company has distinguished itself with a cutting-edge “virtual power plant” boasting an impressive 9 GW capacity. Specializing in the aggregation of renewable electricity, Quadra Energy purchased power from approximately 5,000 wind and solar power plants in 2022, reselling an impressive 14 TWh on wholesale markets and to German resellers and customers. Moreover, since 2021, Quadra Energy has been actively building a portfolio of medium-term contracts for the purchase of 2 TWh of renewable power, which are sold through corporate Power Purchase Agreements (PPAs).

TotalEnergies recognizes the immense value in this strategic acquisition. The addition of Quadra Energy’s expertise and assets will further enhance TotalEnergies’ position in the German energy market. Leveraging the talents of Quadra Energy’s 40 dedicated staff members and their innovative weather-forecasting platform, TotalEnergies aims to strengthen its trading capacity on the intraday markets and expand its marketing activities. This expansion will allow TotalEnergies to offer competitive corporate PPAs and clean firm power solutions to its German customers.

Furthermore, Quadra Energy’s extensive knowledge of local renewable developers will facilitate TotalEnergies’ efforts to develop its own renewable energy production capacity within Germany. This initiative follows TotalEnergies’ successful bid for a 3 GW offshore wind concession in July, demonstrating the company’s commitment to sustainable energy solutions.

TotalEnergies is excited about the potential of this acquisition and looks forward to working closely with Quadra Energy to create a brighter, cleaner energy future for Germany and beyond.

“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.”

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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.

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Cautionary Note
The terms “TotalEnergies”, “TotalEnergies company” or “Company” in this document are used to designate TotalEnergies SE and the consolidated entities that are directly or indirectly controlled by TotalEnergies SE. Likewise, the words “we”, “us” and “our” may also be used to refer to these entities or to their employees. The entities in which TotalEnergies SE directly or indirectly owns a shareholding are separate legal entities. TotalEnergies SE has no liability for the acts or omissions of these entities. This document may contain forward-looking information and statements that are based on a number of economic data and assumptions made in a given economic, competitive and regulatory environment. They may prove to be inaccurate in the future and are subject to a number of risk factors. Neither TotalEnergies SE nor any of its subsidiaries assumes any obligation to update publicly any forward-looking information or statement, objectives or trends contained in this 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 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).

SOURCE: TotalEnergies

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