By Adam Whittaker

TotalEnergies has been awarded a 141 square kilometer offshore-wind concession in the North Sea by the German government.

The French energy company said the concession was granted for 25 years and is extendable to 35 years. It will enable the development of 1 gigawatt of offshore wind capacity, it said.

Under the terms of the agreement, 18 million euros ($20.8 million) will be paid to the German government in 2026. An annual payment of 8.1 million euros will be paid for 20 years to the electricity transmission operator, it said.

The concession is located 150 kilometers northwest of the German island of Heligoland and is close to two other sites jointly owned with RWE. TotalEnergies said it intends to develop an offshore wind cluster and leverage synergies to lower operating costs.

TotalEnergies also said it launched a strategic review of the concessions its has obtained since 2023. It intends to discuss possible developments on them with the German government.

Write to Adam Whittaker at adam.whittaker@wsj.com

(END) Dow Jones Newswires

June 17, 2025 07:59 ET (11:59 GMT)

Copyright (c) 2025 Dow Jones & Company, Inc.