TotalEnergies swoops for German renewables aggregator Quadra Energy

French energy group TotalEnergies SE (EPA:TTE) today announced an agreement with the Aloys Wobben Foundation (AWS) to acquire Quadra Energy, an aggregator of renewable power production in Germany.

Quadra Energy manages a 9-GW virtual power plant. In 2022, the company purchased production from around 5,000 wind and solar power plants and resold 14 TWh on wholesale markets, as well as to German resellers and customers.

Since 2021, Quadra Energy has also developed a portfolio of medium-term contracts for the purchase of 2 TWh of renewable power and their resale through corporate power purchase agreements (PPAs). The company has 40 employees and an innovative weather forecasting platform.

The acquisition, which requires the approval of the relevant authorities, will strengthen TotalEnergies’ presence in Germany’s electricity market.

"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,” said Stephane Michel, president Gas, Renewables & Power at TotalEnergies.

TotalEnergies also expects that Quadra Energy’s knowledge of local renewable developers will help it develop its own renewable generation capacity in Germany after its successful bid in July for a 3-GW offshore wind concession.

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