TotalEnergies and Japan’s ENEOS plan to work together to develop distributed solar generation for businesses across Asia, the companies said in a joint statement.
The two companies signed an agreement on the establishment of a joint venture (JV), with an objective to develop 2 GW of decentralized solar power over the next five years.
The completion of the transaction is expected in the 2nd quarter of 2022 after receiving approval from the relevant authorities.
Distributed energy is the concept of building small or mobile energy sources and distribution networks that produce heat and electricity for the owner’s needs, the excess of which can be sent to the general network.
Therefore, the project will be another step towards achieving carbon neutrality.
According to W. Stokar, Senior Vice President for Renewable Energy Sources (RES), TotalEnergies, thanks to the partnership, TotalEnergies will be able, as planned, to increase renewable generating capacity to 100 GW by 2030.
As part of its plans to achieve zero emissions by 2050, TotalEnergies is building a renewable energy and electricity projects portfolio.
As of the end of 2021, the capacity of TotalEnergies to generate electricity from renewable sources was more than 10 GW.