French energy giant Total is forming a 50:50 joint venture with 174 Power Global, a wholly-owned Hanwha Group affiliate, to develop 1600MW of solar and energy storage projects in the US.
The first of the facilities, which have been transferred from 174 Power Global’s development pipeline, started production last year and the remainder will be put on stream between 2022 and 2024.
The projects are located in Texas, Nevada, Oregon, Wyoming and Virginia.
Total renewables director Julien Pouget said: “This transaction is a first significant step for Total in the US utility scale solar market, in line with our 2025 ambition to achieve 35GW of renewables production capacity worldwide.
“I am confident that this will pave the way to more opportunities in the US renewables and storage market.
“I am very pleased to extend our long-standing cooperation with the Hanwha Group into renewable energies and successfully contribute to the development of solar power generation in the US.”
174 Power Global president and chief executive Henry Yun said: “We are pleased to partner with Total and see significant opportunities for our JV to expand our solar and energy storage footprint.
“Both 174 Power Global and Total have a strong understanding of one another’s business strategies and investment standards.
“This is a great partnership, and we are excited to work with the Total team and further our joint commitment to clean renewable energy and low-carbon investments.”