TotalEnergies And Masdar Sign Binding Agreement To Form $2.2B 50/50 Joint Venture Merging Onshore Renewable Activities Across Nine Asian Countries

TotalEnergies and Masdar have signed a binding agreement to form a $2.2 billion joint venture, equally owned by both companies, to merge their onshore renewable activities across nine Asian countries. The venture will combine assets totaling 3 GW of operational capacity and 6 GW under advanced development. This partnership aims to capitalize on the increasing electricity demand in Asia.