Global multi-energy company TotalEnergies and Tokyo-headquartered ENEOS announced the completion of the joint venture agreement to develop 2 GW B2B on-site solar power projects across Asia over the next five years.

The new joint venture is called Total Energies ENEOS Renewables Distributed Generation Asia Pte. GmbH. As a first phase, TotalEnergies ENEOS has agreed to sign its first 34 MWp long-term solar power purchase agreements (PPAs) in nine Asian countries including Japan, Singapore, Malaysia, India, Thailand, Vietnam, Indonesia, the Philippines and Cambodia. Customers include Air Liquide, PTT Global Chemical and Yanmar Engine.

Under these agreements, customers can purchase solar power at a significant discount off the current cost of grid power. Some customers can enjoy more than 35% discount.

Commenting on these startup projects, Gavin Adda, Head of TotalEnergies Renewables Distributed Generation Asia said:

“We are proud to work with TotalEnergies on this joint venture, which will make it possible to help corporate customers save on energy costs and switch to green electricity. In line with our long-term vision to contribute to a low-carbon society, we will be able to accelerate our renewable energy business while leveraging ENEOS’ strong customer network,” said Kenichiro Kesamaru, General Manager, Corporate Planning Department and -management, Resources & Power Company, ENEOS Corporation.

TotalEnergies is active in more than 130 countries and focuses on sustainable development in all its dimensions with the goal of achieving net zero by 2050. At the end of 2021, TotalEnergies’ gross generation capacity from renewable energy was more than 10 GW.

ENEOS operates over 20 solar power plants in Japan and also participates in renewable energy projects in the United States, Australia and Vietnam. This joint venture is ENEOS’ first overseas renewable energy project using decentralized power sources.