Abu Dhabi Future Energy Company PJSC – Masdar and TotalEnergies have announced a 50/50 joint venture to accelerate renewable energy projects across Asia.
The $2.2 billion (£1.6bn) partnership will merge the companies’ onshore renewable energy activities in nine Asian countries – Azerbaijan, Indonesia, Japan, Kazakhstan, Malaysia, the Philippines, Singapore, South Korea and Uzbekistan.
The joint venture will bring together a portfolio of 3GW of operational capacity, with a further 6GW under development, including solar, wind and battery storage projects.
Patrick Pouyanné, Chairman and CEO of TotalEnergies said: “We are delighted with the signing of this agreement with Masdar, which brings together two major renewable players to build a renewable champion in Asia. It will allow us to combine the strengths of our two companies to secure significant positions in these markets and create more value than if we were acting alone.
“This agreement is fully in line with the renewable energy strategy of our Integrated Power business. We are also pleased to further deepen, in this area, the long-standing relationship between the United Arab Emirates and TotalEnergies.”
Copyright © 2026 Energy Live News LtdELN