TotalEnergies SE Acquires 50% Stake in Offshore Wind Farm for Green Hydrogen Production
Key Ideas
- TotalEnergies SE buys 50% stake in RWE AG's offshore wind farm project in Dutch waters.
- The project aims to produce green hydrogen for TotalEnergies' European refineries.
- The move is part of TotalEnergies' goal to reduce greenhouse gas emissions by 40% between 2015 and 2030.
- The project will replace 500,000 tons of 'gray' hydrogen used in the oil major's plants by 2030.
TotalEnergies SE has agreed to acquire a 50% stake in RWE AG's project to build an offshore wind farm in Dutch waters. The main objective of this partnership is to produce green hydrogen for TotalEnergies' European refineries. This decision marks a significant step in TotalEnergies' strategy to transition towards cleaner energy sources. The company aims to replace 500,000 tons of 'gray' hydrogen currently used in its plants with green hydrogen by 2030. This initiative aligns with TotalEnergies' broader environmental goals, including reducing greenhouse gas emissions from its oil and gas operations by 40% between 2015 and 2030. The collaboration between TotalEnergies and RWE AG exemplifies the growing trend in the energy sector towards sustainable practices and the development of renewable energy projects.