TotalEnergies and Masdar have announced a $2.2 billion joint venture to combine their onshore renewable energy businesses across nine Asian countries, ESGtoday reported.
The 50:50 partnership aims to scale up clean energy capacity in the region by bringing together the companies’ financial resources and technical expertise at a time when electricity demand is rising rapidly across Asia.
The new entity, to be headquartered in Abu Dhabi, will focus on developing, building and operating onshore solar, wind and battery storage projects in countries including Indonesia, Japan, Malaysia and South Korea. It will have around 3 gigawatts (GW) of operational capacity, along with another 6 GW of projects under advanced development.
Officials said both companies will contribute assets of similar value to the venture, which will serve as their exclusive platform for renewable energy expansion in these markets.
Executives from both firms said the partnership would help strengthen their presence in fast-growing regions and accelerate the rollout of clean energy projects at scale.
The move is also expected to support broader global efforts to transition towards low-carbon energy sources while tapping into Asia’s growing demand for power.
