RCS - Abu Dhabi Future Eng - TotalEnergies and Masdar to form $2.2bn JV in Asia

TotalEnergies SEAnnouncement

Today 08:15

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20260402:nRSB2322Za&default-theme=true

RNS Number : 2322Z  Abu Dhabi Future Energy Co. PJSC  02 April 2026

TotalEnergies and Masdar to form $2.2 billion joint venture to accelerate
renewable energy growth in Asia

 

·      Binding agreement to merge onshore renewable activities in nine
countries across Asia

·      Each company will contribute assets of comparable value, totaling
3 GW of operational capacity and 6 GW under advanced development

·      Abu Dhabi-headquartered platform positions partners to capture
Asia's growing electricity demand

 

Paris/Abu Dhabi, 2 April 2026 - 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 JV will have a portfolio capacity of 3 GW of operational assets and 6 GW
of assets in advanced development that are expected to be operational by 2030.
Each partner will contribute assets of comparable value.

 

The JV, which will be headquartered in Abu Dhabi Global Market (ADGM), will be
staffed by around 200 employees from both TotalEnergies and Masdar. The
management team for the JV will be announced at a future date.

 

The closing of the agreement is subject to regulatory approvals and
conditions.

 

 

***

 

 

This information is provided by Reach, the non-regulatory press release distribution service of RNS, part of the London Stock Exchange. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  NRAITMITMTIMMFF



            Copyright 2019 Regulatory News Service, all rights reserved