TotalEnergies and ENEOS Complete Distributed B2B Solar Joint Venture for Asia and Announce First Projects
PR97341
SINGAPORE, Aug. 5, 2022 /PRNewswire=KYODO JBN/ --
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(https://twitter.com/TotalEnergies) LinkedIn
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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
Website: https://solar.totalenergies.asia
Media Relations: contact.solar.asia@totalenergies.com
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
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Caption: TotalEnergies ENEOS JV team during its first board meeting
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