Multinational TotalEnergies and UAE clean energy firm Masdar are forming a $2.2bn joint venture to drive renewables growth across nine Asian countries.
The joint venture, which will be headquartered in the Abu Dhabi Global Market, will have a portfolio capacity of 3GW of operational assets and 6GW of assets in advanced development that are expected to be operational by 2030.
Projects will be targeted in Azerbaijan, Indonesia, Japan, Kazakhstan, Malaysia, the Philippines, Singapore, South Korea and Uzbekistan.
While the focus appears to be on solar, wind and battery storage, both companies have hydrogen and CO2 in their sights under industrial decarbonisation and mobility infrastructure development strategies.
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