Latest news with #OranjeWind
Yahoo
3 days ago
- Business
- Yahoo
NBIM buys 49% stake in RWE's 1.6GW and 1.1GW offshore wind projects
Norges Bank Investment Management (NBIM) has purchased a 49% equity stake in RWE's 1.6GW Nordseecluster in Germany and the 1.1GW Thor offshore wind projects in Denmark. The transaction, valued at €1.4bn, was first announced in March 2025. Situated 50km north of Juist Island, the Nordseecluster wind farm is undergoing construction in two stages. The first phase, Nordseecluster A, with a capacity of 660MW, will be fully operational by 2027. The subsequent phase, Nordseecluster B, with a higher capacity of 900MW, is scheduled for completion in 2029. The Nordseecluster is projected to generate sufficient green electricity for 1.6 million households in Germany. Denmark's largest offshore wind farm, Thor, is located 22km off the Jutland coast and set for full commissioning in 2027. With a total capacity of 1,080MW, the Thor wind farm will supply electricity to more than one million Danish homes. Construction of both the Nordseecluster and Thor is on track, with the installation of monopile foundations for Thor already underway and the Nordseecluster A foundations being prepared at Eemshaven for installation in summer 2025. Wind turbine installation for both projects is planned for 2026. The projects will have long-term contracted revenues that offer stable cash flows and decrease risk to the developments. RWE operates 19 offshore wind farms. Besides Nordseecluster and Thor, the company is building the Sofia wind farm offshore England and OranjeWind offshore the Netherlands. "NBIM buys 49% stake in RWE's 1.6GW and 1.1GW offshore wind projects" was originally created and published by Power Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Erreur lors de la récupération des données Connectez-vous pour accéder à votre portefeuille Erreur lors de la récupération des données Erreur lors de la récupération des données Erreur lors de la récupération des données Erreur lors de la récupération des données
Business Wire
22-04-2025
- Business
- Business Wire
TotalEnergies: Antwerp Platform Adapts to Energy Transition Challenges and Market Trends
ANTWERP, Belgium--(BUSINESS WIRE)--TotalEnergies' (Paris:TTE) (LSE:TTE) (NYSE:TTE) Antwerp platform provides an update on its investments for the future and announces plan to reconfigure its petrochemicals operations to strengthen competitiveness. A key industrial site for TotalEnergies for more than 75 years, the Antwerp platform is based on an integrated business model, which guarantees the resilience of its operations. 'By adapting and investing regularly in our Antwerp site, we're securing its long-term future and ensuring that this integrated refining and petrochemicals platform remains TotalEnergies' most efficient in Europe. Whether the aim is to meet market challenges or contribute to decarbonization and the energy transition, the platform can be reconfigured so that it remains competitive and continues to provide jobs well into the future,' said Ann Veraverbeke, Managing Director of TotalEnergies Antwerp. Adapting to accelerate decarbonization of the platform and the transportation industry Thanks to green hydrogen, the Antwerp platform is speeding up its own decarbonization. As part of a 200 MW Air Liquide electrolyzer project, TotalEnergies has signed a tolling agreement for 130 MW dedicated to the annual production of 15,000 tons of green hydrogen for its Antwerp platform. Upstream of the electrolyzer, TotalEnergies will supply green electricity thanks to its OranjeWind offshore wind project. Scheduled for the end of 2027, the project will reduce CO 2 emissions at the Antwerp site by up to 150,000 tons per year and contribute to the European targets (RED III) for renewable energy in transport. Thanks to the production of sustainable aviation fuel (SAF), Antwerp will contribute to its aviation customers' energy transition, helping them meet the challenge of reducing their carbon footprint. An initial project to produce 50,000 tons a year of SAF via coprocessing will be implemented at the Antwerp platform in 2025. Coprocessing is a SAF production method that enables the simultaneous treatment of hydrocarbons and biomass in a conventional refining unit. Thanks to process electrification and battery-based energy storage, the platform is contributing respectively to the decarbonization of its industrial operations and to the growing need to balance Belgian and European high-voltage transmission grids. With a power rating of 25 MW and capacity of 75 MWh, Antwerp's battery storage system is TotalEnergies' biggest in Europe. Commissioned last year, it helps offset the intermittency of renewable energies to encourage their development. Adapting to meet changing market needs and address overcapacity in petrochemicals Alongside these future-focused developments, the Antwerp platform is also facing considerable overcapacity in the petrochemicals market. In the light of the significant surplus of ethylene expected in Europe, TotalEnergies thus intends to cease operating its oldest steam cracker in Antwerp by end-2027. Indeed, the latter was historically dependent on a major contract with a third-party user of the ethylene produced, which recently decided not to renew it by end 2027. As a result, the steam cracker, which is not integrated to TotalEnergies' downstream polymer production, will no longer have any outlets for its ethylene production. The unit shutdown will allow the site to focus on its more recent steam cracker, whose ethylene production is entirely consumed by TotalEnergies' industrial units in Antwerp and Feluy. The reconfiguration will be conducted without any layoffs. The 253 employees concerned will each be offered a solution aligned with their personal situation: retirement or an internal transfer to another position based at the Antwerp site. This project is subject to the legally required employee consultation and notification process, which TotalEnergies will initiate with representatives of Antwerp platform employees in late April. *** About TotalEnergies TotalEnergies is a global integrated energy company that produces and markets energies: oil and biofuels, natural gas, biogas and low-carbon hydrogen, 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. @TotalEnergies TotalEnergies TotalEnergies TotalEnergies 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. 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).
Yahoo
11-04-2025
- Business
- Yahoo
DEME to acquire offshore wind contractor Havfram in $985.2m deal
Belgium-based offshore energy contractor DEME has signed an agreement to acquire all shares of Havfram Wind Holdco from Sandbrook Capital and the Public Sector Pension Investment Board (PSP Investments) in a €900m ($985.2m) deal. Havfram is a Norwegian offshore wind infrastructure services company that specialises in transport and installation services within the offshore wind sector. The acquisition will bolster DEME's capabilities in turbine and foundation installations, aligning with its ambition to expand its market footprint. The transaction is expected to close by the end of April 2025, subject to customary closing conditions. Havfram will become part of DEME's offshore energy segment. Havfram is constructing two next-generation wind turbine installation vessels, with deliveries scheduled for the fourth quarter of 2025 and early 2026. These vessels are already under contract for the second half of 2026. The transaction value includes the remaining capital expenditures needed to complete both vessels. The company, with an order book worth €600m, is set to support the construction of some of the largest offshore wind farms globally from 2026 to 2030. Until the transaction is finalised, Havfram will continue to operate independently. DEME CEO Luc Vandenbulcke stated: 'DEME's investment in Havfram underscores our unwavering belief in the immense potential of offshore wind infrastructure as a key element in the global energy transition. This acquisition complements our fleet and will bolster our competitive edge in both turbine and foundation installations, enhancing our operational flexibility and interchangeability, and strengthening DEME's leadership position in the industry. 'Havfram's state-of-the-art vessels are equipped to install the next generation of turbines and foundations, seamlessly integrating with DEME's existing fleet. Havfram's expertise and innovative approach will complement our strengths and capabilities, allowing us to deliver even greater value to our customers in the offshore wind industry.' In October 2024, DEME secured a contract to transport and install inter-array cables and secondary steel for the OranjeWind offshore wind farm in the Netherlands. "DEME to acquire offshore wind contractor Havfram in $985.2m deal" was originally created and published by Power Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Yahoo
01-04-2025
- Business
- Yahoo
Norges Bank to acquire 49% stake in Danish and German wind farms
Norges Bank Investment Management (NBIM) will acquire a 49% stake in two offshore wind projects, Nordseecluster in Germany and Thor in Denmark, for €1.4bn ($1.5bn) from RWE. RWE will retain a 51% ownership and continue as the developer and operator of the wind farms, which are currently under construction. The deal values the projects at €2.87bn, with NBIM's investment reaching €4bn, including funding its share of wind farm construction with no external debt financing. The transaction will be completed by the start of the third quarter of 2025, subject to approvals. The 1.1GW Thor, which will be Denmark's largest offshore wind farm, will feature 72 15MW turbines. It will be capable of powering more than one million Danish homes annually and be fully operational by 2027. The 1.6GW Nordseecluster, located near the German island of Juist, will have 104 15MW turbines. It will generate power sufficient for 1.6 million German households. The Nordseecluster will be built in two phases: the 600MW Nordseecluster A and the 900MW Nordseecluster B. Full commissioning of Nordseecluster A is expected in 2027 and Nordseecluster B in 2029. The projects will generate long-term contracted revenues, ensuring stable cash flows and minimising risks associated with the projects. In addition to Nordseecluster and Thor, RWE is progressing with the construction of the Sofia offshore wind farm in England and OranjeWind in the Netherlands. In March 2025, RWE provided an installation contract to Global Wind Service for the Thor offshore wind farm project in the Danish North Sea. "Norges Bank to acquire 49% stake in Danish and German wind farms" was originally created and published by Power Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Yahoo
18-02-2025
- Business
- Yahoo
TotalEnergies Joins Forces with Air Liquide to Decarbonize its Refineries in Northern Europe with Green Hydrogen
45,000 tons per year of green H2 produced by the OranjeWind offshore wind farm developed by TotalEnergies (50%). 450,000 tons per year reduction of CO2 emissions from TotalEnergies' Anvers and Zeeland refineries. An electrolyzer jointly developed in the Netherlands with Air Liquide to supply the Zeeland refinery. A tolling agreement on a second electrolyzer built and operated in partnership with Air Liquide to supply Antwerp platform. PARIS, February 18, 2025--(BUSINESS WIRE)--In line with its 2030 ambition to decarbonize the hydrogen used in its European refineries, TotalEnergies has signed agreements with Air Liquide to develop two projects in the Netherlands, for the production and delivery of some 45,000 tons a year of green hydrogen produced using renewable power, generated mostly by the OranjeWind offshore wind farm, developed by TotalEnergies (50%) and RWE (50%). These projects will cut CO2 emissions from TotalEnergies' refineries in Belgium and the Netherlands by up to 450,000 tons a year and contribute to the European renewable energy targets in transport. Green hydrogen production by TotalEnergies and Air Liquide The two companies have signed an agreement to set up a joint venture, equally held by TotalEnergies (50%) and Air Liquide (50%), which will build and operate a 250 MW electrolyzer near the Zeeland refinery. This project will enable the production of up to 30,000 tons of green hydrogen a year, most of which will be delivered to Zeeland's platform. The electrolyzer will be commissioned in 2029 and will cut the site's CO2 emissions by up to 300,000 tons a year. This project represents a global investment of around €600 million for both partners and has made requests for support under European and national subsidy programs. Project funding will also be sought by the partners. Supplying TotalEnergies' Antwerp platform with green hydrogen In addition, as part of Air Liquide's 200 MW ELYgator electrolyzer project located in Maasvlakte (Netherlands), TotalEnergies has signed a tolling agreement for 130 MW to be dedicated to the production of 15,000 tons per year of green hydrogen for the TotalEnergies platform in Antwerp. Under this agreement, TotalEnergies will supply the renewable electrons produced by the OranjeWind project to Air Liquide to be transformed into green hydrogen. The project is expected to be operational by the end of 2027 and will reduce CO2 emissions at the Antwerp site by up to 150,000 tons per year. "Following the first partnership agreement with Air Liquide to supply the Normandy refinery with green hydrogen, and the agreements to supply the Grandpuits and La Mède biorefineries with renewable hydrogen, the partnership with Air Liquide takes on a new dimension and marks a new step in TotalEnergies' ambition to decarbonize the hydrogen consumed by its refineries in Europe by 2030", said Vincent Stoquart, President, Refining & Chemicals at TotalEnergies. "By supplying these two electrolyzers with renewable electricity from our offshore wind project in the Netherlands, TotalEnergies is leveraging its positioning as an integrated electricity company." "Flagship projects such as the ones we are announcing today, will play a key role in reducing emissions, particularly in hard-to-abate sectors such as industry and heavy mobility. We are proud to lead the way on European renewable and low-carbon hydrogen production, and to accompany TotalEnergies in their journey to decarbonizing their industrial assets. These two projects will complete the five Air Liquide low carbon units already in operation or construction in Europe. This illustrates our capacity to offer concrete solutions to our customers, to reach our carbon neutrality ambition by 2050, and to support Europe's leadership ambition towards decarbonized growth. It also demonstrates the ability of Air Liquide to develop solid business models in the energy field of low carbon hydrogen", said Emilie Mouren-Renouard, member of the Air Liquide Executive Committee, in charge of Europe operations. TotalEnergies and the decarbonization of its European refineries TotalEnergies is committed to reducing the carbon footprint of producing, converting and supplying energy to its customers. One of the pathways identified by the Company is using low-carbon hydrogen to decarbonize its European refineries, a move that should help reduce its annual CO2 emissions by around three million tons by 2030. In order to fully decarbonize the hydrogen used in its European refineries, TotalEnergies has already contracted over 170,000 tons of green hydrogen annually at: La Mède, Grandpuits and Normandy in France, Leuna in Germany and its refineries in Belgium and the Netherlands. 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. @TotalEnergies TotalEnergies TotalEnergies TotalEnergies 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. 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). View source version on Contacts TotalEnergies Contacts Media Relations: +33 (0)1 47 44 46 99 l presse@ l @TotalEnergiesPR Relations Investisseurs : +33 (0)1 47 44 46 46 l ir@ Sign in to access your portfolio
