(Il Sole 24 Ore Radiocor) - Milano, 2 apr - The Abu Dhabi Future Energy Company-Masdar said it has signed a binding agreement with French energy company TotalEnergies to establish a 2.2 billion dollar 50/50 joint venture (JV) that will merge their onshore renewable activities in nine countries across Asia.

The JV will act as both companies' sole vehicle for developing, building, owning and operating onshore solar, wind and battery storage projects in Azerbaijan, Indonesia, Japan, Kazakhstan, Malaysia, the Philippines, Singapore, South Korea, and Uzbekistan.

It 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.

The JV will be headquartered in Abu Dhabi Global Market. The management team for the JV will be announced at a future date.

The closing of the agreement is subject to regulatory.

approvals and conditions.

(RADIOCOR) 02-04-26 08:18:14 (0135) 5 NNNN