- The joint venture will develop 2GW solar energy projects in Asia.
TotalEnergies and Eneos Holdings of Japan have developed a joint venture (JV) to develop 2GW of distributed generation of solar projects in Asia.
The partners plan on developing onsite solar for commercial and industrial (C&I) customers in Japan, India, Thailand, Vietnam, Indonesia, Philippines, Cambodia, Singapore and Malaysia. The target capacity is planned to be delivered over the next five years.
The business-to-business JV, TotalEnergies Eneos Renewables Distributed Generation Asia Pte Ltd, will kick off operations with contracts for 34 MWp of capacity with customers such as French industrial gases supplier Air Liquide, Thailand’s PTT Global Chemical and Japanese machinery maker Yanmar Engine. The projects will be developed under long-term power purchase agreements (PPAs) at a “substantial discount of more than 35% to the current cost of grid power.”