TotalEnergies and Eneos have received final merger clearance and have completed a joint venture agreement to develop 2GW solar projects across Asia over the next five years.
The new joint venture will be called TotalEnergies ENEOS Renewables Distributed Generation Asia Pte. Ltd.
As a first step in the launch, TotalEnergies ENEOS has agreed to sign its first long-term power purchase agreements on 34 MWp across 9 countries.
This includes B2B customers such as Air Liquide, PTT Global Chemical and Yanmar Engine.
Under these agreements, customers will receive solar power at a substantial discount of more than 35% to the current cost of grid power.
“We are very pleased to announce the first set of projects to be developed through our joint venture with ENEOS,” said Gavin Adda, Head of TotalEnergies Renewables Distributed Generation Asia.
“Together with our partner, we will mobilize our know-how and expertise for more projects in the coming months which puts us firmly on track to achieve the goal of 2 GW within the next 5 years.”