TotalEnergies has signed agreements with the Aloys Wobben Foundation (AWS) to acquire the entire share capital of aggregator of renewable electricity production in Germany, Quadra Energy.
Specialising in the aggregation of renewable electricity, Quadra Energy purchased production from around 5,000 wind and solar power plants in 2022, and then resold 14 TWh on wholesale markets and to German resellers and customers.
Quadra Energy has also developed since 2021 a portfolio of medium-term contracts for the purchase of 2 TWh of renewable power and their sale through corporate PPAs.
This acquisition, which is subject to approval by the relevant authorities, will enable TotalEnergies to further strengthen its integrated power business in Germany.
TotalEnergies will leverage the extensive expertise of Quadra Energy’s 40 staff members, as well as its innovative weather-forecasting platform.
Stéphane Michel, president gas, renewables and power at TotalEnergies says: ‘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.’