QAZAQ GREEN. TotalEnergies has recently inked agreements with the Aloys Wobben Foundation (AWS) to acquire the entirety of Quadra Energy, a German-based company, TotalEnergies announced in the press release.

Quadra Energy, founded in 2012, is a key player in the renewable energy sector, boasting a "virtual power plant" with a capacity of 9 GW. This acquisition positions Quadra Energy as one of the top three aggregators of renewable electricity production in Germany, which happens to be the largest power market in Europe and is witnessing remarkable growth in renewable energy.

Quadra Energy specializes in aggregating renewable electricity and, in 2022, procured energy from approximately 5,000 wind and solar power facilities. Subsequently, it resold an impressive 14 TWh of energy on wholesale markets and to both German resellers and customers. Additionally, since 2021, Quadra Energy has developed a portfolio of medium-term contracts for the acquisition of 2 TWh of renewable power, further advancing its reach through corporate Power Purchase Agreements (PPAs).

This acquisition, subject to approval by relevant authorities, signifies a significant step forward in TotalEnergies' quest to strengthen its integrated power business in Germany. The company aims to leverage the extensive expertise of Quadra Energy's 40 staff members, as well as its innovative weather-forecasting platform. These valuable assets will empower TotalEnergies to enhance its trading capabilities on intraday markets and diversify its marketing endeavors, offering competitive corporate PPAs and clean firm power solutions to its German clientele.

Moreover, Quadra Energy's profound understanding of local renewable developers will facilitate TotalEnergies in expanding its own renewable energy production capacity in the country, especially following its successful acquisition of a 3 GW offshore wind concession in July.

Stéphane Michel, President of Gas, Renewables & Power at TotalEnergies, expressed his contentment with the acquisition, stating, "We are pleased with the acquisition of Quadra Energy, and I would like to welcome their teams, who will be an essential component of our presence in Germany’s electricity market. 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. This acquisition thus contributes positively to our profitability target of 12% ROACE by 2028 for this business segment."