JV For 2 GW Decentralized Solar In Asia

TotalEnergies & Eneos Target B2B Distributed Solar Markets In Asia Over Next 5 Years

JV For 2 GW Decentralized Solar In Asia

After taking over B2B solar business of SunPower in the US, TotalEnergies of France is now eying Asia under a decentralized solar partnership with Japan’s Eneos. (Illustrative Photo; Photo Credit: NavinTar/Shutterstock.com)

  • TotalEnergies and Eneos have signed a joint venture agreement for decentralized solar in Asia
  • They plan to develop onsite decentralized solar power capacity for industrial and commercial segments over the next 5 years
  • Focus regions in Asia will be Japan, India, Thailand, Vietnam, Indonesia, Philippines, Cambodia, Singapore and Malaysia

French energy company TotalEnergies and Japanese oil company Eneos plan to launch a B2B joint venture (JV) aiming for 2 GW of decentralized solar power capacity to be developed onsite across Asia over the next 5 years.

By Asia, they mean Japan, India, Thailand, Vietnam, Indonesia, Philippines, Cambodia, Singapore and Malaysia. Target audience will be from industrial and commercial segments.

Under the agreement for the 50:50 JV, TotalEnergies will leverage its expertise in this space and its global footprint, Eneos will put to use its renewables experience and brand value in Japan. They plan to become one of the most ‘competitive’ service providers in the region to help their customers lower the costs of decentralized solutions.

The transaction is expected to achieve closure in Q2/2022 post relevant approvals are secured from authorities.

“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 Senior Vice President Renewables for TotalEnergies, Vincent Stoquart. TotalEnergies aims to grow its renewable energy generation capacity globally by 2030, up from over 10 GW at the end of 2021.

Recently, the French energy giant purchased the Commercial & Industrial Solutions (CIS) business from US based  SunPower in which it already is the majority stakeholder, with a view to expand itself in the B2B space (see SunPower Finds Buyer For CIS Business).

For Eneos, this JV is its 1st overseas renewable energy project using distributed power sources, aligned with its Long-Term Vision to 2040 under which next-generation energy supply and community services including distributed power sources is one of the growth businesses. It currently operates 22 solar power plants in Japan, and is engaged in renewable energy projects in the US, Australia and Vietnam.

About The Author

Anu Bhambhani

SENIOR NEWS EDITOR Anu is our solar news whirlwind. At TaiyangNews, she covers everything that is of importance in the world of solar power. In the past 9 years that she has been associated with TaiyangNews, she has covered over thousands of stories, and analysis pieces on markets, technology, financials, and more on a daily basis. She also hosts TaiyangNews Conferences and Webinars. Prior to joining TaiyangNews, Anu reported on sustainability, management, and education for leading print dailies in India. [email protected]

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