TotalEnergieshas signed agreements with the Aloys Wobben Foundation (AWS) to acquirethe entire share capital of the German company Quadra Energy. Foundedin 2012 and boasting a “virtual power plant” totaling 9 GW, QuadraEnergy is one of the top 3 aggregators of renewable electricityproduction in Germany – the largest power market in Europe with thehighest renewable growth.

Specializingin the aggregation of renewable electricity, Quadra Energy purchasedproduction from around 5,000 wind and solar power plants in 2022, andthen resold 14 TWh on wholesale markets and to German resellers andcustomers. Quadra Energy has also developed since 2021 a portfolio ofmedium-term contracts for the purchase of 2 TWh of renewable power andtheir sale through corporate PPAs.

Thisacquisition, which is subject to approval by the relevant authorities,will enable TotalEnergies to further strengthen its integrated powerbusiness in Germany. TotalEnergies will leverage the extensive expertiseof Quadra Energy’s 40 staff members, as well as its innovativeweather-forecasting platform. These assets will also enable the Companyto strengthen its trading capacity on the intraday markets and tobroaden its marketing activities to offer its German customerscompetitive corporate PPAs and clean firm power. Finally, QuadraEnergy’s in-depth knowledge of local renewable developers will also makeit easier for TotalEnergies to develop its own renewable productioncapacity in the country, following its successful bid for a 3 GWoffshore wind concession in July.

"Weare pleased with the acquisition of Quadra Energy, and I would like towelcome their teams, who will be an essential component of our presencein Germany’s electricity market,” saidStéphane Michel, President Gas, Renewables & Power at TotalEnergies."This agreement will enable us to speed up the development of ourIntegrated Power activities in the country – whose electricity markethas particularly attractive fundamentals – in both production, trading,aggregation and marketing of Corporate PPA and clean firm power. Thisacquisition thus contributes positively to our profitability target of12 % ROACE by 2028 for this business segment."