REG-TotalEnergies SE TotalEnergies and ENEOS Join Forces to Develop B2B Solar Distributed Generation Across Asia

TotalEnergies SEAnnouncement

13/04/2022 08:00

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TotalEnergies and ENEOS Join Forces to Develop B2B Solar Distributed
Generation Across Asia

 

TotalEnergies (Paris:TTE) (LSE:TTE) (NYSE:TTE) and ENEOS signed a joint
venture agreement to develop onsite B2B solar distributed generation across
Asia(1). The 50/50 Joint Venture between two major players in the field plans
to develop 2 GW of decentralized solar capacity over the next five years.

This partnership will capitalize on the strengths of both companies.
TotalEnergies will leverage its expertise on this market segment and its
global footprint and ENEOS will use its expertise in renewables and its strong
brand mainly in Japan to lower the costs of decentralized solutions offered to
industrial and commercial customers, making this joint venture one of the most
competitive service providers in the region.

“We are pleased to partner with ENEOS, one of Asia's most dynamic and
established renewable energy players. Through this joint venture we will
provide one of the most efficient solutions in Asia to help our B2B customers
achieve their sustainability goals while reducing their costs”, said Vincent
Stoquart, Senior Vice President Renewables for TotalEnergies. “With this
partnership, TotalEnergies further demonstrates its commitment to Asia, a key
continent for reaching our target of 100 GW of renewable generation capacity
by 2030.”

“We strongly believe TotalEnergies, one of the leading energy companies on a
global scale, is the best partner for us since both of us are increasingly
developing the renewable energy business in the global energy transition. In
addition to the highly competitive business model which TotalEnergies has
developed, we will be utilizing our strong brand and customer network in Japan
and Asia for the business expansion of this Joint Venture. We are confident
that this partnership enables us to expand this business efficiently and
effectively in Asia including Japan,” said Katsuki Arisa, Senior Vice
President, President & CEO of Resources & Power Company, ENEOS
Corporation.

TotalEnergies is a global multi-energy company that produces and markets
energies with a global portfolio of 2 GW of solar distributed generation in
operation, under construction or under development.

ENEOS is expanding the distributed generation business with one of the largest
renewable power generation capacities in Japan. In ENEOS Group Long-Term
Vision to 2040, ENEOS places Next-generation Energy Supply and Community
Services including distributed power sources as one of its growth businesses.

Completion of the transaction is expected in the second quarter 2022 following
competition clearance from the relevant authorities.

***

TotalEnergies and renewables electricity

As part of its ambition to get to net zero by 2050, TotalEnergies is building
a portfolio of activities in renewables and electricity. At the end of 2021,
TotalEnergies' gross renewable electricity generation capacity was more than
10 GW. TotalEnergies will continue to expand this business to reach 35 GW of
gross production capacity from renewable sources by 2025, and then 100 GW by
2030 with the objective of being among the world's top 5 producers of
electricity from wind and solar energy.

ENEOS Corporation and renewables electricity

ENEOS operates 22 solar power plants in Japan and are also participating in
renewable energy projects in the United States, Australia, and Vietnam.
Furthermore, we are actively engaged in power generation projects using
biomass, hydroelectric power, wind power, etc. This Joint Venture is ENEOS’
first overseas renewable energy project using distributed power sources.

About TotalEnergies

TotalEnergies is a global multi-energy company that produces and markets
energies on a global scale: oil and biofuels, natural gas and green gases,
renewables and electricity. Our more than 100,000 employees are committed to
energy that is ever more affordable, clean, reliable and accessible to as many
people as possible. Active in more than 130 countries, TotalEnergies puts
sustainable development in all its dimensions at the heart of its projects and
operations to contribute to the well-being of people.

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About ENEOS Corporation

ENEOS Group has developed businesses in the energy and nonferrous metals
segments, from upstream to downstream. The Group’s envisioned goals for 2040
are: becoming one of the most prominent and internationally competitive energy
and materials company groups in Asia, creating value by transforming our
current business structure, and contributing to the development of a
low-carbon, recycling-oriented society with the pursuit of carbon-neutral
status in its own CO2 emissions. ENEOS Corporation, one of the principal
operating companies in the Group, is contributing to achievement of the
Group’s envisioned goals through a broad range of energy businesses.

eneos.jp

TotalEnergies Contacts 

Media Relations: +33 (0)1 47 44 46 99 l presse@totalenergies.com
(mailto:presse@totalenergies.com) l @TotalEnergiesPR 
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Investor Relations: +33 (0)1 47 44 46 46 l ir@totalenergies.com
(mailto:ir@totalenergies.com)

ENEOS Contacts 

Website: https://www.eneos.co.jp/ 
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Public Relations: +81 (3) 6257 7150 l pr@eneos.com (mailto:pr@eneos.com)

Cautionary Note TotalEnergies

The terms “TotalEnergies”, “TotalEnergies company” or “Company” in
this document are used to designate TotalEnergies SE and the consolidated
entities that are directly or indirectly controlled by TotalEnergies SE.
Likewise, the words “we”, “us” and “our” may also be used to refer
to these entities or to their employees. The entities in which TotalEnergies
SE directly or indirectly owns a shareholding are separate legal entities.
This document may contain forward-looking information and statements that are
based on a number of economic data and assumptions made in a given economic,
competitive and regulatory environment. They may prove to be inaccurate in the
future and are subject to a number of risk factors. Neither TotalEnergies SE
nor any of its subsidiaries assumes any obligation to update publicly any
forward-looking information or statement, objectives or trends contained in
this document whether as a result of new information, future events or
otherwise. Information concerning risk factors, that may affect
TotalEnergies’ financial results or activities is provided in the most
recent Registration Document, the French-language version of which is filed by
TotalEnergies SE with the French securities regulator Autorité des Marchés
Financiers (AMF), and in the Form 20-F filed with the United States Securities
and Exchange Commission (SEC).

Cautionary Note ENEOS Corporation

The terms “ENEOS”, “ENEOS Group” in this document are used to
designate ENEOS Corporation and the consolidated entities that are directly or
indirectly controlled by ENEOS Corporation. This document contains certain
forward-looking statements. Actual results may differ materially from those
reflected in any forward-looking statement due to various factors, which
include, but are not limited to, the following: (1) macroeconomic conditions
and changes in the competitive environment in the energy, resources, and
materials industries; (2) the impact of COVID-19 on economic activity; (3)
changes in laws and regulations; and (4) risks related to litigation and other
legal proceedings.

(1) Japan, India, Thailand, Vietnam, Indonesia, Philippines, Cambodia,
Singapore and Malaysia



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