Joint VentureMay 4, 2026, 09:36 AM
TotalEnergies, Masdar Form $2.2B JV for Asia Renewables
AI Summary
TotalEnergies and Masdar have signed a binding agreement to establish a $2.2 billion 50/50 joint venture, merging their onshore renewable activities across nine countries in Asia, targeting 9 GW of capacity by 2030. Separately, TotalEnergies EP Congo announced a hydrocarbon discovery on the Moho license in the Republic of Congo, with estimated recoverable resources of nearly 100 million barrels. The company also disclosed a share buyback totaling EUR 47.2 million and signed an MoU with TPAO for exploration opportunities.
Key Highlights
- Formed $2.2 billion 50/50 joint venture with Masdar for onshore renewables in nine Asian countries.
- JV portfolio includes 3 GW of operational assets and 6 GW under advanced development by 2030.
- Discovered a hydrocarbon column of approximately 160 meters on the Moho license in the Republic of Congo.
- Moho G and Moho F discoveries represent recoverable resources estimated at close to 100 million barrels.
- Purchased 591,899 own shares for EUR 47.2 million from March 30 to April 2, 2026.
- Signed a Memorandum of Understanding (MoU) with TPAO for exploration cooperation.