TotalEnergies and Masdar have formed a $2.2 billion joint venture to combine their onshore renewable activities across nine Asian markets. The Abu Dhabi-based venture will be the exclusive vehicle for developing and operating solar, wind and battery storage projects in countries including Azerbaijan, South Korea, Indonesia and Japan.

The 50-50 partnership will merge both companies' regional portfolios, creating a platform with 3 gigawatts of operational assets and 6 gigawatts expected to come online by 2030. The venture will employ approximately 200 staff from both firms and will announce its management team at a later date. Each partner is contributing assets of similar value to ensure balanced ownership.

This strategic alliance represents a significant consolidation of renewable energy assets in Asia, where demand for clean energy continues to grow rapidly. The joint venture structure allows both companies to leverage their complementary strengths while sharing risks and resources in diverse markets. By combining their portfolios under a single entity, TotalEnergies and Masdar aim to accelerate project development and improve operational efficiency across the region.