TotalEnergies and Eneos, a Japanese corporation, have launched a joint venture to develop decentralised solar power generation for their B2B customers in a number of Asian nations.
In the next five years, the 50:50 JV hopes to build 2GW of decentralised solar capacity.
TotalEnergies will use its market experience and global footprint to benefit from the deal.
Eneos will use its renewable energy knowledge and reputation, particularly in Japan, to lower the costs of decentralised solutions for industrial and commercial customers, making this joint venture one of the region’s most competitive.
Vincent Stoquart, TotalEnergies head of renewables, said “We are pleased to partner with Eneos, one of Asia’s most dynamic and recognized players in renewables.”
“Through this joint venture we will provide one of Asia’s most successful solutions to help our B2B customers achieve their sustainability goals while reducing costs.”
“With this partnership, TotalEnergies is once again demonstrating its commitment to Asia, a key continent to achieving our goal of 100 GW of renewable generation capacity by 2030.”
Katsuki Arisa, Eneos senior vice president, president and general manager for resources and electricity, said “We are convinced that TotalEnergies, one of the world leaders in energy, is the ideal partner for us, as we are both supporting the energy transition by developing our activities in the field of renewables.
“In addition to the highly competitive business model developed by TotalEnergies, we will use the strength of our brand and our network of customers in Japan and the rest of Asia to develop this joint venture.
“We are convinced that this partnership will allow us to develop this business effectively across Asia, and especially in Japan.”
Following approval by the competition authorities, the transaction is likely to close in the second quarter of 2022.
