Total(TTE.US) and the UAE state-owned enterprise Masdar establish a $2.2 billion new energy joint venture with a capacity of up to 9GW, spanning nine countries

LootboxPhobia · 2026-04-02T09:48:33+00:00

TotalEnergies and UAE-based renewable energy company Masdar announced the merger of their onshore renewable energy businesses in nine Asian countries, forming a $2.2 billion joint venture. The joint venture will have an operational capacity of 3 GW and is expected to develop and operate multiple renewable energy projects by 2030. Both parties will hold a 50% stake each, with projects spanning multiple countries, anticipated to drive future electricity demand growth.

LootboxPhobia

2026-04-02 09:48:33

Abstract generation in progress

Zhitong Finance App learned that on Thursday, TotalEnergies (TTE.US) and Masdar, the UAE’s clean energy company, announced they will merge their onshore renewable energy businesses in nine Asian countries to form a joint venture valued at $2.2 billion.

The merged company will have 3 GW of operating installed capacity, with another 6 GW in the late-stage development phase. The two parties will each hold 50% of the joint venture, whose headquarters will be based in Abu Dhabi.

The two companies will contribute assets of equal value to the joint venture, and the projects under construction are expected to enter operation in 2030. After the transaction is completed, the joint venture will develop, build, own, and operate solar, wind, and energy storage projects; this will combine their respective businesses in Azerbaijan, Indonesia, Japan, Kazakhstan, Malaysia, the Philippines, Singapore, South Korea, and Uzbekistan.

“Asia will be the key driver of global power demand growth over the next decade,” said Sultan Al Jaber, Minister of Industry and Advanced Technology of the UAE and Chairman of Masdar.

Last month, media reports said that U.S. officials were drafting an agreement under which they would pay Total nearly $1 billion as compensation for canceling wind farm lease contracts.

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