TotalEnergies has finalized deals to purchase Quadra Energy, a leading German firm owned by the Aloys Wobben Foundation (AWS), marking a significant expansion in the renewable energy sector. Established in 2012, Quadra Energy operates a substantial “virtual power plant” with a capacity of 9 GW, positioning it as one of Germany’s top three renewable energy aggregators. Germany not only has the largest electricity market in Europe but also the fastest-growing renewable energy sector. Quadra Energy’s core business is the aggregation of renewable energy, having procured output from approximately 5,000 wind and solar installations in 2022. It successfully sold 14 TWh of this energy to wholesale markets, German resellers, and direct customers.
Additionally, since 2021, Quadra Energy has been building a portfolio of medium-term agreements for buying 2 TWh of renewable energy, which it then sells through corporate Power Purchase Agreements (PPAs). Pending regulatory approval, this acquisition is set to bolster TotalEnergies’ integrated power operations within Germany. The company plans to capitalize on the expertise of Quadra Energy’s 40-strong workforce and its cutting-edge weather prediction technology. These resources will enhance TotalEnergies’ trading capabilities in the intraday markets and expand its marketing efforts, providing German clients with competitive corporate PPAs and reliable, clean energy. Moreover, Quadra Energy’s comprehensive understanding of the local renewable energy landscape will facilitate TotalEnergies in growing its own renewable energy production, building on its recent acquisition of a 3 GW offshore wind project in July.