TotalEnergies buys into 795-MW Dutch offshore wind project

French energy major TotalEnergies SE (EPA:TTE) has bought a 50% interest in the 795-MW OranjeWind offshore wind farm project in Dutch waters amid plans to direct its share of the generation to decarbonise its refineries across Europe.

The stake will be acquired from Germany’s RWE AG (ETR:RWE), TotalEnergies said on Wednesday without disclosing financial details.

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Under the plan, the French energy group will use its share of the future wind farm’s output to power 350 MW of electrolysers planned to produce about 40,000 tonnes of green hydrogen annually. The low-carbon fuel will be then supplied to the company’s refineries in Northern Europe, enabling it to mitigate roughly 400,000 tonnes of carbon dioxide (CO2) annually, or around 5 million tonnes per year by 2030.

The initiative is aligned with TotalEnergies’ goal of cutting the net greenhouse gas emissions linked directly to its oil and gas operations by 40% by 2030 from 2015 levels.

The OranjeWind wind farm will be located 53 km (32.9 miles) off the Dutch coast in the Hollandse Kust West (HKW) area and is expected to start generating electricity for more than one million Dutch households annually in early 2028. Its construction is slated to begin in 2026.

RWE secured the project in the Dutch Hollandse Kust West VII tender in November 2022. The company’s plan envisages installing floating solar panels, a subsea lithium-ion battery, electrolysers and boilers.