ENEOS Corporation and TotalEnergies SE have reportedly inked a joint venture (JV) agreement to develop B2B onsite solar distributed generation throughout Asia.

The agreement is a 50-50 joint venture between the two key players with a plan to develop nearly 2 GW of decentralized solar power over the next five years.

The collaboration will take advantage of the strengths of both companies. ENEOS will utilize its expertise in renewables and its robust brand prominently in Japan and TotalEnergies will use its market segment expertise and global footprint to reduce the costs of decentralized solutions provided to commercial and industrial consumers, making the JV one of the region’s most competitive service providers.

According to Vincent Stoquart, Senior Vice President of Renewables at TotalEnergies, this joint venture will offer one of the most effective solutions in Asia to assist its B2B customers to attain their sustainability objectives while curbing their costs. With this collaboration, TotalEnergies further exhibits its commitment to the region, a crucial continent for reaching its target of generating 100 GW of renewable capacity by 2030, added Stoquart.

Katsuki Arisa, the President, Senior Vice President & CEO of Resources & Power Company at ENEOS believes that TotalEnergies is an ideal collaborator for the company since both entities are increasingly developing renewable energy business in the shift toward global energy.

Apart from TotalEnergies’ highly competitive business model, Arisa revealed that the company will be using its robust customer network and brand in Asia and Japan for the expansion of the joint venture’s business.

It is worth noting that TotalEnergies is a multi-energy company that makes and promotes energies with a worldwide portfolio of solar distributed generation of 2 GW in operation, under development, or construction.

On the other hand, ENEOS is broadening the business of distributed generation with one of Japan’s largest renewable power generation capacities.

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https://www.businesswire.com/news/home/20220412006203/en/TotalEnergies-SE-UK-Regulatory-Announcement-TotalEnergies-and-ENEOS-Join-Forces-to-Develop-B2B-Solar-Distributed-Generation-Across-Asia