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TotalEnergies, ENEOS partner to develop B2B solar distributed generation across Asia
ASIA
FRENCH oil and gas supermajor TotalEnergies and Tokyo-based ENEOS have signed a joint venture agreement to develop onsite B2B solar distributed generation across Asia.
The 50/50 joint venture plans to develop 2 GW of decentralised solar capacity over the next five years. The joint venture will operate in Japan, India, Thailand, Vietnam, Indonesia, Philippines, Cambodia, Singapore and Malaysia.
European oil and gas companies are moving fast to join the energy transition, moving into renewable energy.
“We are pleased to partner with ENEOS, one of Asia’s most dynamic and established renewa- ble energy players. Through this joint venture we will provide one of the most efficient solutions in Asia to help our B2B customers achieve their sustainability goals while reducing their costs”, said Vincent Stoquart, Senior Vice President Renewables for TotalEnergies.
“With this partnership, TotalEnergies fur- ther demonstrates its commitment to Asia, a key continent for reaching our target of 100 GW of renewable generation capacity by 2030,” he continued.
“We strongly believe TotalEnergies, one of the leading energy companies on a global scale, is the best partner for us since both of us are increasingly developing the renewable energy business in the global energy transition,” added Katsuki Arisa, senior vice president, and presi- dent & CEO of resources and power at ENEOS.
“In addition to the highly competitive busi- ness model which TotalEnergies has devel- oped, we will be utilising our strong brand and
customer network in Japan and Asia for the busi- ness expansion of this joint venture. We are con- fident that this partnership enables us to expand this business efficiently and effectively in Asia including Japan,” he said.
TotalEnergies has a global portfolio of 2 GW of solar distributed generation in operation, under construction or under development. The Paris-based company seeks to become net zero by 2050.
At the end of 2021, TotalEnergies’ gross renewable electricity generation capacity was more than 10 GW. The company will continue to expand its renewables business to reach 35 GW of gross production capacity from renew- able sources by 2025, and then 100 GW by 2030 with the objective of being among the world’s top five producers of electricity from wind and solar energy.
ENEOS is expanding the distributed gen- eration business with one of the largest renew- able power generation capacities in Japan. In ENEOS Group Long-Term Vision to 2040, ENEOS places Next-generation Energy Supply and Community Services including distributed power sources as one of its growth businesses.
The company operates 22 solar power plants in Japan and also participates in renewable energy projects in the US, Australia, and Viet- nam. In addition to solar, it is actively engaged in power generation projects using biomass, hydro- electric power and wind power, etc.
Completion of the transaction is expected later this year,™
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w w w . N E W S B A S E . c o m Week 32 10•August•2022