A particularly attractive market
The German electricity market, the largest in Europe, has fundamentals that make the implementation of our Integrated Power model particularly relevant. The electrification of uses is expected to drive demand growth, while offering, in a tense context due to the planned phase-out of nuclear and coal, opportunities for the development of renewables and flexible generation (combined-cycle gas turbine plants, or CCGTs).
Moreover, Germany is an energy importer and has limited interconnection capacities with neighboring countries. Lastly, its electricity market is highly volatile, which creates value generation through flexible assets and trading.
Being present throughout the entire value chain, from production…
The Company is actively expanding its renewable electricity production capacities in the country. Since 2023, we have been awarded offshore concessions for offshore wind farm development in the North Sea and the Baltic Sea, for a total capacity of 5.5 GW (1).
The Company has also acquired a 50% stake from RWE, a key player in renewables and our partner in the OranjeWind offshore wind farm in the Netherlands, in two other offshore wind projects, each with a capacity of 2 GW. This will enable TotalEnergies to unlock synergies at its German offshore wind hub, with a total net capacity of 7.5 GW, by optimizing its construction and operating costs.
TotalEnergies is also expanding in onshore wind through the acquisition of VSB, a leading renewable energy company in Europe and recognized for its expertise in onshore wind farm development. Half of this portfolio – part of which is already in operation or construction – is located in Germany. TotalEnergies is also exploring investment opportunities in flexible generation capacities (CCGT)
… to the storage, trading and marketing of clean firm power
To complement renewable generation, in February 2024 TotalEnergies acquired Kyon Energy, Germany’s leading battery electricity storage developer. Through this acquisition, the Company now has a portfolio of over 2 GW in projects in an advanced development phase.
Lastly, TotalEnergies has strengthened its electricity marketing activities with the acquisition of Quadra Energy, one of Germany’s leading renewable energy production aggregators. This is an asset for strengthening our trading capacities on the intraday market and expanding our marketing activities with a view to bringing our German customers competitive contracts on the sale of clean firm power.
Our presence in Germany on the electricity market
The map illustrates TotalEnergies' industrial and strategic presence in Germany in the field of low-carbon electricity.
It distinguishes two main categories of activities:
1. Operations or construction in progress:
- Onshore wind
- Battery storage
- CCGT (combined cycle gas-fired power plant)
- LNG Regas
- Interconnection
2. Development in progress (future projects):
- Solar
- Offshore wind
- Onshore wind
- Battery storage
(1) Considering the longer delays in the connection timelines announced by the German transmission system operators (TSOs), TotalEnergies has launched a strategic review of the various concessions obtained since 2023, with a view to engaging in dialogue with the German authorities to explore the conditions of their possible developments.