TotalEnergies and Masdar Create $2.2B JV to Develop 9GW Renewables in Asia
TotalEnergies and Masdar will launch a US$2.2 billion 50/50 joint venture consolidating onshore solar, wind and battery storage projects across nine Asian countries with an initial portfolio of 3 GW operational capacity. The platform aims to add 6 GW by 2030, combining around 200 employees under Abu Dhabi management.
1. Joint Venture Formation
TotalEnergies and Masdar have established a 50/50 joint venture based in Abu Dhabi with an initial capitalization of US$2.2 billion to consolidate their onshore renewables activities across nine Asian countries.
2. Portfolio and Capacity
The joint venture combines 3 GW of operational solar, wind and battery storage assets, and plans to commission an additional 6 GW by 2030 through contributions of equal value from both partners.
3. Strategic Rationale
By unifying development and operations under a single platform, the partners aim to achieve cost efficiencies, accelerate project timelines and capitalize on Asia’s expected surge in electricity demand this decade.
4. Management and Operations
The venture will integrate around 200 employees from both companies, with executive appointments and governance structures to be announced as the platform scales its regional presence.