TotalEnergies, Masdar form $2.2B JV to boost renewable energy in Asia, including Azerbaijan

TotalEnergies, a global integrated multi‑energy company, and Abu Dhabi Future Energy Company PJSC – Masdar, a global clean energy leader, have signed a binding agreement to establish a $2.2bn 50/50 joint venture (JV) that will merge their onshore renewable activities in nine countries across Asia.

"As electricity demand accelerates across Asia, this partnership brings together capital and expertise to deliver renewable energy at the scale and speed required. Once the transaction is closed, the JV will act as both companies' sole vehicle for developing, building, owning and operating onshore solar, wind and battery storage projects in Azerbaijan, Indonesia, Japan, Kazakhstan, Malaysia, the Philippines, Singapore, South Korea and Uzbekistan," the company said.