The JV will be headquartered at Abu Dhabi Global Market and is expected to employ around 200 people drawn from both organisations
TotalEnergies and Masdar have signed a binding agreement to establish a $2.2 billion joint venture aimed at accelerating renewable energy deployment across Asia. The 50:50 partnership will consolidate its onshore renewable energy businesses in nine key markets.
The joint venture will serve as the exclusive platform for both companies to develop, build, own, and operate onshore solar, wind, and battery storage projects in Azerbaijan, Indonesia, Japan, Kazakhstan, Malaysia, the Philippines, Singapore, South Korea, and Uzbekistan. The move comes amid rapidly rising electricity demand across Asia, positioning the JV to deliver large-scale clean energy solutions.
At launch, the venture will have a combined portfolio of 3 GW of operational capacity, alongside 6 GW of projects in advanced stages of development, expected to be commissioned by 2030. Both partners will contribute assets of comparable value, leveraging their financial strength and technical expertise to expand in high-growth markets.
The JV will be headquartered at Abu Dhabi Global Market and is expected to employ around 200 people drawn from both organisations. The management team will be announced at a later stage.
Commenting on the development, Sultan Al Jaber highlighted that Asia will drive global electricity demand growth this decade, and the partnership will help unlock new opportunities to deliver reliable and competitive clean energy.
Meanwhile, Patrick Pouyanné said the collaboration would combine the strengths of both companies to build a leading renewable energy platform in Asia, creating greater value than operating independently.
Mohamed Jameel Al Ramahi added that the JV will strengthen Masdar’s portfolio, diversify its presence in high-growth markets, and accelerate expansion alongside a like-minded global partner.
The partnership also reflects deepening energy cooperation between the United Arab Emirates and TotalEnergies, reinforcing Abu Dhabi’s position as a global hub for clean energy investment and innovation.
