The JV will 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 JV will 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 JV will have a portfolio capacity of 3 GW of operational assets and 6 GW of assets in advanced development that are expected to be operational by 2030. Each partner will contribute assets of comparable value.
‘Asia will be the main driver of global electricity demand growth this decade, and this collaboration with TotalEnergies will accelerate our progress across the continent, unlocking new opportunities to deliver the competitive, reliable energy solutions that our partners and customers need,’ said Dr Sultan Al Jaber, UAE minister of industry and advanced technology and chairman of Masdar.
The JV, which will be headquartered in Abu Dhabi Global Market (ADGM), will be staffed by around 200 employees from both TotalEnergies and Masdar. The management team for the JV will be announced at a future date.
