Netherlands: TotalEnergies Acquires a Stake in the OranjeWind Offshore Wind Farm in View of Supplying Green Hydrogen to Its European Refineries and Lowering Their Emissions
TotalEnergies has acquired a 50% stake in OranjeWind, a 795 MW offshore wind farm project in the Netherlands, from RWE. The company plans to use its share of renewable electricity to power 350 MW electrolyzer projects, producing about 40,000 tons per year of green hydrogen for decarbonizing its Northern European refineries. This initiative aims to reduce CO₂ emissions by approximately 400,000 tons per year, contributing to TotalEnergies' goal of a 40% reduction in net greenhouse gas emissions from its oil and gas operations by 2030.
The OranjeWind project, located 53 km off the Dutch coast, is set to begin construction in 2026, with full commissioning expected in early 2028. The project will also support the stability of the Dutch grid with electric boilers and battery storage.
TotalEnergies ha acquisito una partecipazione del 50% in OranjeWind, un progetto di parco eolico offshore da 795 MW nei Paesi Bassi, da RWE. L'azienda prevede di utilizzare la sua quota di elettricità rinnovabile per alimentare progetti di elettrolizzatori da 350 MW, producendo circa 40.000 tonnellate all'anno di idrogeno verde per decarbonizzare i propri impianti di raffinazione nel nord Europa. Questa iniziativa mira a ridurre le emissioni di CO₂ di circa 400.000 tonnellate all'anno, contribuendo all'obiettivo di TotalEnergies di raggiungere una riduzione del 40% delle emissioni nette di gas serra dalle sue operazioni nel settore del petrolio e del gas entro il 2030.
Il progetto OranjeWind, situato a 53 km al largo della costa olandese, è previsto in fase di costruzione a partire dal 2026, con la piena messa in servizio attesa all'inizio del 2028. Il progetto supporterà inoltre la stabilità della rete elettrica olandese con caldaie elettriche e sistemi di accumulo a batteria.
TotalEnergies ha adquirido una participación del 50% en OranjeWind, un proyecto de parque eólico en alta mar de 795 MW en los Países Bajos, de RWE. La empresa planea utilizar su parte de electricidad renovable para alimentar proyectos de electrolizadores de 350 MW, produciendo aproximadamente 40.000 toneladas al año de hidrógeno verde para descarbonizar sus refinerías en el norte de Europa. Esta iniciativa tiene como objetivo reducir las emisiones de CO₂ en aproximadamente 400.000 toneladas al año, contribuyendo a la meta de TotalEnergies de lograr una reducción del 40% en las emisiones netas de gases de efecto invernadero de sus operaciones de petróleo y gas para 2030.
El proyecto OranjeWind, ubicado a 53 km de la costa holandesa, comenzará su construcción en 2026, con la plena puesta en marcha prevista para principios de 2028. El proyecto también apoyará la estabilidad de la red eléctrica holandesa con calderas eléctricas y almacenamiento en batería.
토탈에너지스는 RWE로부터 네덜란드에 있는 795 MW 해상 풍력 발전소 프로젝트인 오란예윈드의 50% 지분을 인수했습니다. 이 회사는 350 MW 전해조 프로젝트에 자사의 재생 가능 전기를 사용하여 연간 약 40,000톤의 녹색 수소를 생산하고, 이를 통해 북유럽 정유소의 탈탄소화에 기여할 계획입니다. 이 이니셔티브는 연간 약 400,000톤의 CO₂ 배출량을 줄이는 것을 목표로 하며, 2030년까지 석유 및 가스 운영에서 온실가스 순배출량을 40% 줄이겠다는 총 목표에 기여하고자 합니다.
오란예윈드 프로젝트는 네덜란드 해안에서 53km 떨어진 곳에 위치하며, 2026년에 건설이 시작되고 2028년 초에 완전 가동될 예정입니다. 이 프로젝트는 전기 보일러와 배터리 저장 장치를 통해 네덜란드 전력망의 안정성도 지원할 것입니다.
TotalEnergies a acquis une participation de 50 % dans OranjeWind, un projet de parc éolien offshore de 795 MW aux Pays-Bas, auprès de RWE. L'entreprise prévoit d'utiliser sa part d'électricité renouvelable pour alimenter des projets d'électrolyseurs de 350 MW, produisant environ 40 000 tonnes par an d'hydrogène vert pour décarboniser ses raffineries en Europe du Nord. Cette initiative vise à réduire les émissions de CO₂ d'environ 400 000 tonnes par an, contribuant à l'objectif de TotalEnergies d'une réduction de 40 % des émissions nettes de gaz à effet de serre de ses opérations pétrolières et gazières d'ici 2030.
Le projet OranjeWind, situé à 53 km de la côte néerlandaise, doit commencer sa construction en 2026, avec une mise en service complète prévue pour début 2028. Le projet soutiendra également la stabilité du réseau électrique néerlandais grâce à des chaudières électriques et au stockage par batterie.
TotalEnergies hat eine 50%ige Beteiligung an OranjeWind, einem Offshore-Windparkprojekt mit einer Kapazität von 795 MW in den Niederlanden, von RWE übernommen. Das Unternehmen plant, seinen Anteil an erneuerbarer Elektrizität zu nutzen, um 350 MW Elektrolyseurprojekte zu betreiben, die etwa 40.000 Tonnen pro Jahr grünen Wasserstoff produzieren, um seine Raffinerien in Nordeuropa zu dekarbonisieren. Diese Initiative zielt darauf ab, die CO₂-Emissionen um rund 400.000 Tonnen pro Jahr zu reduzieren und trägt zu TotalEnergies Ziel bei, die netto Treibhausgasemissionen aus seinen Öl- und Gasoperationen bis 2030 um 40% zu senken.
Das OranjeWind-Projekt, das 53 km vor der niederländischen Küste liegt, soll 2026 mit dem Bau beginnen, wobei die vollständige Inbetriebnahme Anfang 2028 erwartet wird. Das Projekt wird auch die Stabilität des niederländischen Stromnetzes mit elektrischen Kesseln und Batteriespeicher unterstützen.
- Acquisition of 50% stake in 795 MW offshore wind farm project
- Production of 40,000 tons/year of green hydrogen for refinery decarbonization
- Potential reduction of 400,000 tons of CO₂ emissions annually
- Contribution to 40% net greenhouse gas emissions reduction goal by 2030
- Support for Dutch grid stability through electric boilers and battery storage
- Significant capital investment required for wind farm and electrolyzer projects
- Project completion not expected until early 2028, delaying immediate benefits
- Potential risks associated with large-scale offshore wind and hydrogen projects
Insights
TotalEnergies' acquisition of a 50% stake in the OranjeWind offshore wind farm marks a significant step towards the company's decarbonization goals. This 795 MW project will play a important role in powering 350 MW of electrolyzer capacity, producing approximately
The strategic importance of this move cannot be overstated. By dedicating renewable electricity to green hydrogen production, TotalEnergies is addressing two critical challenges simultaneously:
- Reducing the carbon footprint of its refinery operations
- Advancing its position in the emerging green hydrogen market
The projected reduction of 400,000 tons of CO₂ emissions annually is substantial, contributing significantly to the company's target of a
The integration of electric boilers and battery storage in the OranjeWind project also demonstrates a forward-thinking approach to grid stability, which will be important as renewable energy penetration increases. This holistic strategy positions TotalEnergies favorably in the evolving energy landscape, potentially enhancing its long-term competitiveness and sustainability.
While specific financial details are not disclosed, this strategic investment by TotalEnergies carries significant implications for the company's future financial performance and risk profile. The OranjeWind project represents a substantial capital allocation towards renewable energy and decarbonization efforts, which could yield several financial benefits:
- Cost reduction: By replacing purchased hydrogen with self-produced green hydrogen, TotalEnergies may achieve operational cost savings in its refinery operations over the long term.
- Risk mitigation: Diversifying into renewables and green hydrogen production helps hedge against potential future carbon pricing and regulatory risks.
- New revenue streams: The project opens up possibilities for TotalEnergies to potentially sell excess green hydrogen or renewable electricity, creating additional revenue opportunities.
However, investors should also consider the capital-intensive nature of offshore wind and hydrogen projects, which may impact short-term financial metrics. The full commissioning expected in early 2028 suggests a significant period before the project contributes to the company's bottom line.
Overall, this investment aligns with the growing trend of energy majors reallocating capital towards low-carbon initiatives. While it may pressure near-term returns, it positions TotalEnergies for potentially stronger and more sustainable long-term financial performance in a decarbonizing world.
TotalEnergies' investment in OranjeWind represents a significant step towards aligning corporate strategy with climate goals and evolving energy policies. This project addresses several key environmental and policy considerations:
- Emissions reduction: The projected annual CO₂ emission reduction of 400,000 tons contributes meaningfully to the Netherlands' and EU's climate targets.
- Green hydrogen development: By dedicating renewable electricity to green hydrogen production, TotalEnergies is supporting the EU's hydrogen strategy, which aims to scale up green hydrogen production significantly by 2030.
- Grid integration: The inclusion of electric boilers and battery storage demonstrates a commitment to addressing intermittency challenges associated with renewable energy, aligning with policy goals for grid stability and flexibility.
However, it's important to note that while this project represents progress, it addresses only a fraction of TotalEnergies' overall emissions. The company's broader strategy and pace of transition will continue to be scrutinized by policymakers and environmental groups.
From a policy perspective, this project exemplifies the type of public-private collaboration and innovation that many governments are seeking to encourage in the energy transition. It may serve as a model for future projects and potentially influence policy frameworks for offshore wind and green hydrogen development across Europe.
TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) today signed agreements with German renewable developer RWE, to acquire a
Producing green hydrogen to decarbonize our refineries
TotalEnergies plans to decarbonize its European refineries’ hydrogen and cut its CO₂ emissions by around 5 million tons per year by 2030. In this context, the Company intends to allocate its share in OranjeWind to produce electricity to generate green hydrogen via electrolysis. The production of this green or low-carbon hydrogen, which will replace the hydrogen currently consumed in TotalEnergies' refineries, will avoid the emission of approximately 400,000 tons of CO₂ per year.
The project is a new milestone towards TotalEnergies’ goal of a
OranjeWind, an integrated, innovative offshore wind project
Located in the North Sea, about 53 km off the Dutch coast, the OranjeWind project was won by RWE in 2022 as part of the Dutch Hollandse Kust West VII tender. RWE then committed to developing electrolyzers, to which TotalEnergies will now also contribute.
In addition to producing green power and hydrogen, OranjeWind will also support the stability of the Dutch grid with its electric boilers and battery storage. Construction of the wind farm is scheduled to start in 2026, with full commissioning expected in early 2028.
"We are delighted to working with RWE, a major player in renewables, on a project that will enable us to develop production of green hydrogen, which we need to decarbonize our refineries in northern
“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
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About RWE
RWE is leading the way to a green energy world. With its investment and growth strategy Growing Green, RWE is contributing significantly to the success of the energy transition and the decarbonisation of the energy system. Around 20,000 employees work for the company in almost 30 countries worldwide. RWE is already one of the leading companies in the field of renewable energy. Between 2024 and 2030, RWE will invest
About RWE and offshore wind
RWE is one of the world’s leading players in offshore wind with 19 offshore wind farms in operation. Beside OranjeWind the company is currently constructing three large-scale offshore wind farms: the 1.4-GW Sofia project off the UK’s east coast, the 1.1-GW Thor wind farm off the Danish coast and the Nordseecluster with a total capacity of 1.6 GW north of the German island of Juist. RWE aims to triple its global offshore wind capacity from 3.3 GW currently to 10 GW by 2030.
TotalEnergies and electricity
As part of its ambition to get to net zero by 2050, TotalEnergies is building a world class cost-competitive portfolio combining renewables (solar, onshore and offshore wind) and flexible assets (CCGT, storage) to deliver clean firm power to its customers. At the end of 2023, TotalEnergies’ gross renewable electricity generation installed capacity was 22 GW. TotalEnergies will continue to expand this business to reach 35 GW in 2025 and more than 100 TWh of net electricity production by 2030.
TotalEnergies and offshore wind
TotalEnergies’ portfolio in offshore wind has a total capacity of more than 16 GW, with most farms bottom-fixed. These projects are located in the
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.
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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 Universal 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).
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FAQ
What is the capacity of the OranjeWind offshore wind farm TotalEnergies (TTE) acquired a stake in?
How much green hydrogen will TotalEnergies (TTE) produce from the OranjeWind project?
When is the OranjeWind project expected to be fully commissioned?
How will the OranjeWind project contribute to TotalEnergies' (TTE) emissions reduction goals?
What additional benefits will the OranjeWind project provide to the Dutch energy system?
