TotalEnergies and Masdar to establish $2.2 billion joint venture for renewables in nine Asian countries
Type: Partnership · Technology: Hybrid · Country: Azerbaijan, Indonesia, Japan, Kazakhstan, Malaysia, Philippines, Singapore, South Korea, Uzbekistan · Capacity: 3 GW · Value: $2.2B · Announced: 2026-04-02
France's TotalEnergies and the UAE's Masdar have entered a binding agreement to establish a $2.2 billion joint venture company with 50-50 ownership. This new entity will merge their onshore renewables activities across nine Asian countries, including Azerbaijan, Indonesia, and Japan. The joint venture will serve as the sole vehicle for developing, building, owning, and operating solar, onshore wind, and battery storage projects in these markets. Upon closing, the joint venture will manage a portfolio of 3 GW of operational assets and a pipeline of 6 GW expected to be operational by 2030. Each partner will contribute assets of comparable value, combining capital and expertise to accelerate renewable energy project delivery across Asia.
Analysis
TotalEnergies and Masdar have announced a $2.2 billion joint venture to combine their onshore renewables activities across nine Asian countries, including Azerbaijan, Indonesia, and Japan. This 50-50 partnership will develop, build, own, and operate solar, onshore wind, and battery storage projects in these markets. Upon closing, the joint venture will manage 3 GW of operational assets and a 6 GW pipeline expected by 2030, leveraging the partners' capital and expertise to accelerate project delivery in Asia.
Key points
- TotalEnergies and Masdar to establish a $2.2 billion joint venture.
- Joint venture will cover nine Asian countries: Azerbaijan, Indonesia, Japan, Kazakhstan, Malaysia, Philippines, Singapore, South Korea, Uzbekistan.
- The entity will manage 3 GW of operational assets and a 6 GW pipeline by 2030.
- The partnership is a 50-50 ownership structure.
Counterparties
- Masdar (Partner)
- TotalEnergies (Partner)