TotalEnergies, Masdar Land $2.2bn JV for 3GW Renewables in APAC
TTE•The European Commission approved a $2.2bn joint venture between TotalEnergies and Masdar that combines onshore renewables in nine Asia-Pacific markets, launching with 3GW of operational assets and a 6GW development pipeline by 2030. The UAE-based JV, equally owned by both partners, will develop utility-scale solar, wind and battery storage projects.
1. Joint Venture Approval
The European Commission has approved a $2.2bn joint venture between TotalEnergies and Masdar under a simplified EU Merger Regulation review. The equity JV, equally owned, will combine the partners’ onshore renewable operations across nine Asia-Pacific countries and will be headquartered in Abu Dhabi Global Market.
2. JV Portfolio and Development Pipeline
At launch, the JV holds a 3GW portfolio of operational solar photovoltaic, onshore wind and battery storage assets and a 6GW pipeline in advanced development, with projects targeted to be operational by 2030. Each partner will contribute assets of comparable value and the organisation will employ approximately 200 staff.
3. Routine Share Transaction Disclosures
TotalEnergies also issued UK regulatory notices disclosing transactions in its own shares, published simultaneously with the JV announcement. Specific details of these transactions were not provided in the regulatory filings.
