TotalEnergies & Masdar Join Forces in Asia's Renewables Race
Business & Finance News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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TotalEnergies and Masdar form a 50/50 joint venture, merging onshore renewable operations in Asia, valued at $2.2 billion. The new platform boasts 3 GW of operating capacity and 6 GW in advanced development, set to be operational by 2030. This move underscores the shift towards mega portfolio combinations in Asias competitive renewables market, driven by increasing demand and emission reduction goals. The partnership also strengthens energy ties between the UAE and France, and paves the way for future projects, funding, and market share.
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