- TotalEnergies signed agreements to acquire Quadra Energy from the Aloys Wobben Foundation.
- Quadra Energy manages a 9 GW virtual power plant and resold 14 TWh in 2022.
- The acquisition is subject to approval by relevant authorities.
- TotalEnergies aims for a 12% ROACE by 2028 in this business segment.
Acquisition Details
TotalEnergies has signed agreements with the Aloys Wobben Foundation to acquire the entire share capital of Quadra Energy, a German company founded in 2012. Quadra Energy operates a “virtual power plant” with a total capacity of 9 GW, making it one of the top three aggregators of renewable electricity production in Germany.
Operational Scope
In 2022, Quadra Energy purchased production from approximately 5,000 wind and solar power plants and resold 14 TWh on wholesale markets and to German resellers and customers. Since 2021, the company has also developed a portfolio of medium-term contracts for the purchase of 2 TWh of renewable power, which are sold through corporate Power Purchase Agreements (PPAs).
Strategic Benefits
This acquisition, pending approval from relevant authorities, will enable TotalEnergies to strengthen its integrated power business in Germany. The company will leverage Quadra Energy’s expertise, its innovative weather-forecasting platform, and its in-depth knowledge of local renewable developers. These assets will enhance TotalEnergies' trading capacity on intraday markets and broaden its marketing activities, offering competitive corporate PPAs and clean firm power to German customers.
Future Goals
TotalEnergies aims to develop its own renewable production capacity in Germany, following its successful bid for a 3 GW offshore wind concession. The company targets a 12% Return on Average Capital Employed (ROACE) by 2028 for this business segment.
