Masdar and TotalEnergies sign $2.2bn renewable energy JV

Masdar and TotalEnergies person entered into a binding statement to make a $2.2bn associated task (JV) that volition harvester their onshore renewable vigor activities successful 9 Asian countries nether a 50/50 ownership structure.

As energy request rises successful Asia, the 2 companies program to harvester backing and method capabilities done the caller concern to grow renewable generation.

After the woody closes, the JV volition service arsenic the sole level for some firms to develop, construct, ain and run onshore solar, upwind and artillery retention projects.

The projects volition beryllium located successful Azerbaijan, Kazakhstan, Malaysia, Indonesia, Japan, the Philippines, South Korea, Singapore, and Uzbekistan.

Masdar CEO Mohamed Jameel Al Ramahi said: “This associated task reinforces Abu Dhabi’s presumption arsenic a planetary halfway for vigor leadership, combining the expertise of Masdar and TotalEnergies to thrust renewable vigor deployment crossed Asia.

“For Masdar, this JV strengthens and diversifies our portfolio, unlocking caller opportunities successful attractive, high-growth markets, portion bringing successful a like-minded spouse to accelerate maturation and present further worth successful our existing markets.”

The venture’s portfolio volition see 3GW of operating assets and a further 6GW of projects successful precocious development, which the partners mean to bring into cognition by 2030.

TotalEnergies and Masdar volition each lend assets of akin worth to the caller entity.

The caller entity volition person its office successful Abu Dhabi Global Market (ADGM) and employment astir 200 unit drawn from TotalEnergies and Masdar.

The JV remains taxable to regulatory approvals and different closing conditions.

TotalEnergies president and CEO Patrick Pouyanné said: “We are delighted with the signing of this statement with Masdar, which brings unneurotic 2 large renewable players to physique a renewable champion successful Asia.

“It volition let america to harvester the strengths of our 2 companies to unafraid important positions successful these markets and make much worth than if we were acting alone. This statement is afloat successful enactment with the renewable vigor strategy of our Integrated Power business.

“We are besides pleased to further deepen, successful this area, the long-standing narration betwixt the United Arab Emirates and TotalEnergies.”

In January 2026, Masdar and Octopus Energy signed 2 agreements to collaborate connected cleanable vigor systems successful the UK and Africa.

"Masdar and TotalEnergies motion $2.2bn renewable vigor JV" was primitively created and published by Power Technology, a GlobalData owned brand.

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