10 Apr 2026
TotalEnergies and Masdar have entered into a binding agreement to establish a 50:50 joint venture valued at approximately USD 2.2 billion. The partnership will consolidate their onshore renewable energy operations across nine Asian markets.
TotalEnergies and Masdar have entered into a binding agreement to establish a 50:50 joint venture valued at approximately USD 2.2 billion. The partnership will consolidate their onshore renewable energy operations across nine Asian markets.
The joint venture will act as the exclusive platform 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, subject to regulatory approvals.
A Combined Portfolio of 9 GW
The new entity will integrate a total portfolio of 9 gigawatts (GW), comprising 3 GW of operational assets and 6 GW under advanced development, all targeted for full commissioning by 2030. Both partners will contribute assets of similar value, resulting in a combined valuation of USD 2.2 billion.
The JV will be headquartered in Abu Dhabi Global Market (ADGM) and will employ around 200 professionals from both organisations. The leadership team is expected to be announced at a later stage.
Strategic Vision and Leadership Insights
Sultan Al Jaber, UAE Minister of Industry and Advanced Technology and Chairman of Masdar, highlighted that the UAE has established itself as a global energy leader through large-scale investments and strategic partnerships. He noted that Asia is set to drive the majority of global electricity demand growth this decade, and that collaboration with TotalEnergies will accelerate Masdar’s expansion across the region.
Patrick Pouyanné, Chairman and CEO of TotalEnergies, stated that the agreement brings together two major renewable energy players to create a strong platform in Asia. He emphasized that the partnership aligns with TotalEnergies’ integrated power strategy and strengthens its long-standing relationship with the UAE.
Mohamed Jameel Al Ramahi, CEO of Masdar, added that the JV reinforces Abu Dhabi’s role as a global hub for energy leadership. He noted that the collaboration will diversify Masdar’s portfolio, unlock opportunities in high-growth markets, and accelerate expansion alongside a like-minded partner.
About Masdar
Masdar, established in 2006, is one of the world’s leading clean energy companies. It is jointly owned by TAQA, ADNOC, and Mubadala Investment Company.
Active in over 40 countries, Masdar has a global clean energy capacity of approximately 55 GW and aims to reach at least 100 GW by 2030. Its portfolio spans utility-scale solar, wind, energy storage, and green hydrogen, contributing to the UAE’s Net Zero by 2050 strategy and avoiding an estimated 14 million tonnes of CO₂ emissions annually.
About TotalEnergies
TotalEnergies is a global integrated multi-energy company with one of the largest corporate renewable portfolios worldwide. By the end of 2025, it had achieved 34.1 GW of gross installed renewable capacity, a significant increase from 3 GW in 2020, and is targeting 80 GW by 2030. The company also aims to generate 100–120 TWh of net electricity annually by that year.
Between 2026 and 2030, TotalEnergies plans to invest USD 3–4 billion annually in its integrated power segment, covering solar, onshore and ofafshore wind, battery storage, and flexible gas assets.
Despite its global scale, TotalEnergies’ renewable footprint in the Asia-Pacific region has remained relatively limited, with around 2.5 GW of installed capacity as of 2025, primarily in solar. The newly announced joint venture with Masdar is designed to significantly strengthen its presence and accelerate growth across key Asian markets.
The detailed article is published by https://totalenergies.com/ can be accessed from https://totalenergies.com/news/press-releases/totalenergies-and-masdar-form-22-billion-joint-venture-accelerate-renewable
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