TotalEnergies, Eneos unveil beginning projects of 2-GW Asian solar JV

• French power giant TotalEnergies SE (EPA: TTE) as well as Eneos Holdings Inc (TYO:5020) of Japan have actually completed the development of their joint venture (JV) for the growth of 2 GW of distributed generation (DG) solar projects in Asia, starting with 34 MWp across 9 countries, they claimed on Thursday.

As concurred in April, the companions will create onsite solar for commercial and also industrial (C&I) consumers Japan, India, Thailand, Vietnam, Indonesia, Philippines, Cambodia, Singapore as well as Malaysia. The target capacity is prepared to be supplied over the next five years.

The business-to-business JV, called TotalEnergies Eneos Renewables Distributed Generation Asia Pte Ltd, will start operations with contracts for 34 MWp of capacity with clients such as French industrial gases supplier Air Liquide, Thailand's PTT Global Chemical and Japanese machinery manufacturer Yanmar Engine. The projects will certainly be created under long-term power acquisition agreements (PPAs) at a "substantial price cut of more than 35% to the present price of grid power."

"Our company believe this partnership will certainly produce higher as well as much more sustainable value for Asian market with the growing number of companies changing their organization to be a lot more environment-friendly," stated Kenichiro Kesamaru, General Manager, Company Planning & Management Division, Resources & Power Company at Eneos.