Country for PR: Hong Kong
Contributor: PR Newswire Asia (Hong Kong)
Friday, August 05 2022 - 12:31
TotalEnergies and ENEOS Complete Distributed B2B Solar Joint Venture for Asia and Announce First Projects
SINGAPORE, Aug. 5, 2022 /PRNewswire-AsiaNet/ --

TotalEnergies and ENEOS have received final merger clearance and have completed 
the joint venture agreement to develop 2 GW of onsite B2B solar projects across 
Asia[1] over the next five years.

Plans for the joint venture were first announced on April 13, 2022, and the 
final agreement was completed on June 24, 2022.

The new joint venture will be called TotalEnergies ENEOS Renewables Distributed 
Generation Asia Pte. Ltd. As a first step in the launch, TotalEnergies ENEOS 
has agreed to sign its first long-term power purchase agreements on 34 MWp 
across 9 countries. This includes B2B customers such as Air Liquide, PTT Global 
Chemical and Yanmar Engine.

Under these agreements, customers will receive solar power at a substantial 
discount of more than 35%[2] to the current cost of grid power.

"We are very pleased to announce the first set of projects to be developed 
through our joint venture with ENEOS. Together with our partner, we will 
mobilize our know-how and expertise for more projects in the coming months 
which puts us firmly on track to achieve the goal of 2 GW within the next 5 
years," said Gavin Adda, Head of TotalEnergies Renewables Distributed 
Generation Asia. "We increasingly see B2B customers preferring to rely on 
established companies that they can trust to deliver cost-effective, 
carbon-reducing power solutions."

"We are proud to work with TotalEnergies on this joint venture, which will make 
it possible to help corporate customers save energy cost and switch to green 
power. 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 
the strong customer network of ENEOS. We believe this partnership will create 
greater and more sustainable value for Asian market with the growing number of 
companies transforming their business to be more environment-friendly," said 
Kenichiro Kesamaru, General Manager, Company Planning & Management Department, 
Resources & Power Company, ENEOS Corporation.

TotalEnergies is a global multi-energy company that produces and markets 
energies with a global portfolio of 2 GW of solar distributed generation in 
operation, under construction or under development.

ENEOS is expanding the distributed generation business with one of the largest 
renewable power generation capacities in Japan. In ENEOS Group Long-Term Vision 
to 2040, ENEOS places Next-generation Energy Supply and Community Services 
including distributed power sources as one of its growth businesses.

[1] Japan, India, Thailand, Vietnam, Indonesia, Philippines, Cambodia, 
Singapore and Malaysia

[2] Discount may vary from customer to customer

TotalEnergies and renewables electricity

As part of its ambition to get to net zero by 2050, TotalEnergies is building a 
portfolio of activities in renewables and electricity. At the end of 2021, 
TotalEnergies' gross renewable electricity generation capacity is more than 10 
GW. TotalEnergies will continue to expand this business to reach 35 GW of gross 
production capacity from renewable sources and storage by 2025, and then 100 GW 
by 2030 with the objective of being among the world's top 5 producers of 
electricity from wind and solar energy.

ENEOS Corporation and renewables electricity

ENEOS operates over 20 solar power plants in Japan and are also participating 
in renewable energy projects in the United States, Australia, and Vietnam. 
Furthermore, ENEOS is actively engaged in power generation projects using 
biomass, hydroelectric power, wind power, etc. This joint venture is ENEOS' 
first overseas renewable energy project using distributed power sources.

About TotalEnergies

TotalEnergies is a global multi-energy company that produces and markets 
energies: oil and biofuels, natural gas and green gases, renewables and 
electricity. Our more than 100,000 employees are committed to energy that is 
ever more affordable, clean, reliable and accessible to as many people as 
possible. Active in more than 130 countries, TotalEnergies puts sustainable 
development in all its dimensions at the heart of its projects and operations 
to contribute to the well-being of people.

Twitter @TotalEnergies(   LinkedIn 
TotalEnergies(  Facebook 
TotalEnergies(  Instagram 

About ENEOS Corporation

ENEOS Group has developed businesses in the energy and nonferrous metals 
segments, from upstream to downstream. The Group's envisioned goals for 2040 
are: becoming one of the most prominent and internationally competitive energy 
and materials company groups in Asia, creating value by transforming our 
current business structure, and contributing to the development of a 
low-carbon, recycling-oriented society with the pursuit of carbon-neutral 
status in its own CO2 emissions. ENEOS Corporation, one of the principal 
operating companies in the Group, is contributing to achievement of the Group's 
envisioned goals through a broad range of energy businesses.

TotalEnergies ENEOS Contacts


Media Relations:

Cautionary Note TotalEnergies

The terms "TotalEnergies", "TotalEnergies company" or "Company" in this 
document are used to designate TotalEnergies SE and the consolidated entities 
that are directly or indirectly controlled by TotalEnergies SE. Likewise, the 
words "we", "us" and "our" may also be used to refer to these entities or to 
their employees. The entities in which TotalEnergies SE directly or indirectly 
owns a shareholding are separate legal entities. This document may contain 
forward-looking information and statements that are based on a number of 
economic data and assumptions made in a given economic, competitive and 
regulatory environment. They may prove to be inaccurate in the future and are 
subject to a number of risk factors. Neither TotalEnergies SE nor any of its 
subsidiaries assumes any obligation to update publicly any forward-looking 
information or statement, objectives or trends contained in this document 
whether as a result of new information, future events or otherwise. Information 
concerning risk factors, that may affect TotalEnergies' financial results or 
activities is provided in the most recent Registration Document, the 
French-language version of which is filed by TotalEnergies SE with the French 
securities regulator Autorité des Marchés Financiers (AMF), and in the Form 
20-F filed with the United States Securities and Exchange Commission (SEC).

Cautionary Note ENEOS Corporation

The terms "ENEOS", "ENEOS Group" in this document are used to designate ENEOS 
Corporation and the consolidated entities that are directly or indirectly 
controlled by ENEOS Corporation. This document contains certain forward-looking 
statements. Actual results may differ materially from those reflected in any 
forward-looking statement due to various factors, which include, but are not 
limited to, the following: (1) macroeconomic conditions and changes in the 
competitive environment in the energy, resources, and materials industries; (2) 
the impact of COVID-19 on economic activity; (3) changes in laws and 
regulations; and (4) risks related to litigation and other legal proceedings.

Source: TotalEnergies

Image Attachments Links:


   Caption: TotalEnergies ENEOS JV team during its first board meeting