TotalEnergies to acquire a 50% stake in OranjeWind from RWE.

TotalEnergies, a French multinational integrated oil and gas company, agreed to acquire a 50% stake in OranjeWind, a 795 MW offshore wind farm under development, from RWE, a multinational renewable energy company. Financial terms were not disclosed. “The Netherlands is one of our strategic core markets to grow our green portfolio. In TotalEnergies I am delighted to have a strong partner at our side with whom we can realize our first offshore wind project in the Netherlands and at the same time unlock the full system integration of OranjeWind. Together, we will provide a blueprint for the Dutch energy system of the future, designed to tackle the challenges of intermittent wind generation and flexible energy demand. As key players in the Dutch energy market, we are both committed to helping the Netherlands meet its decarbonization targets,” Sven Utermöhlen, RWE Offshore Wind CEO.