TotalEnergies and ENEOS Collaborate to Develop B2B Solar Generation in Asia

Published on: 18 April 2022 07:00 PM
by KnowESG
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TotalEnergies, an oil and gas company based in France, has partnered with ENEOS, a Japanese petroleum company, to devise an onsite B2B solar distributed generation in Asia. The partnership will help the companies develop 2 GW of decentralized solar capacity in five years.

The collaboration will help utilize the strengths of both companies. TotalEnergies' can leverage its expertise to strengthen its global footprint. ENEOS will bolster its brand, particularly in Japan, to reduce the costs of decentralized solutions provided to commercial and industrial customers.

Vincent Stoquart, Senior Vice President of Renewables for TotalEnergies, said: "We are pleased to partner with ENEOS, one of Asia's most dynamic and established renewable energy players. Through this joint venture, we will provide one of the most efficient solutions in Asia to help our B2B customers achieve their sustainability goals while reducing their costs. With this partnership, TotalEnergies further demonstrates its commitment to Asia, a key continent, for reaching our target of 100 GW of renewable generation capacity by 2030.”

Katsuki Arisa, Senior Vice President, President & CEO of Resources & Power Company, ENEOS Corporation, said: "We strongly believe TotalEnergies, one of the leading energy companies on a global scale, is the best partner for us since both of us are increasingly developing the renewable energy business in the global energy transition. In addition to the highly competitive business model which TotalEnergies has developed, we will be utilizing our strong brand and customer network in Japan and Asia for the business expansion of this Joint Venture. We are confident that this partnership enables us to expand this business efficiently and effectively in Asia including Japan."

TotalEnergies has a global portfolio of 2 GW of solar distributed generation in operation worldwide, and some of them are under construction or development. ENEOS is a power generation company in Japan, growing its distributed generation business internationally. The transaction will complete in 2022 following clearance from the authorities concerned.