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TotalEnergies, Masdar Form JV to Support Renewable Energy Use in Asia
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Key Takeaways
TTE and Masdar formed a $2.2B JV for onshore solar, wind and battery storage across 9 Asian countries.
JV assets of 3 GW operating assets and 6 GW late-stage projects expected to be operational by 2030.
TTE had 34.1 GW renewables end-2025 and plans 100 GW by 2030, with nearly 70% output from renewables.
TotalEnergies SE (TTE - Free Report) announced that it has entered into a $2.2 billion joint venture with Abu Dhabi Future Energy Company PJSC – Masdar to combine their onshore renewable energy operations across nine countries in Asia.
As demand for clean electricity rises rapidly across Asia, this partnership combines capital and expertise to deliver renewable energy at the scale and pace required. Once the transaction is completed, the joint venture will serve as the exclusive platform for both companies to develop, build, own and operate onshore solar, wind and battery storage projects across nine Asian countries.
The joint venture will have a portfolio comprising 3 gigawatts (“GW”) of operational assets and 6 GW of projects in advanced stages of development, which are expected to become operational by 2030. Each partner will contribute assets of similar value.
Demand for Renewable Energy Is Rising in Asia
Rapid urbanization, the growth of manufacturing and data center development are collectively increasing demand for clean electricity in Asia. Moreover, renewable energy is increasingly becoming cost-competitive, with solar PV and onshore wind often cheaper than new or existing coal and gas plants.
Multinational companies in Asia are committing to 100% renewable energy, driving faster deployment. Growing climate concerns, net-zero targets and advances in grid modernization and battery storage are making solar and wind more reliable and scalable sources of power.
Amid such a backdrop, the joint venture between TotalEnergies and Masdar will be able to reap the benefits of rising demand for clean energy.
TotalEnergies’ gross installed renewable power generation capacity reached 34.1 GW at the end of 2025. The company plans to expand this capacity to 100 GW by 2030.
TotalEnergies aims to grow its electricity production by around 20% annually through 2030, targeting 100-120 TWh of generation per year. Of this total output, about 70% is expected to come from renewable energy sources.
TotalEnergies is building a portfolio of low-carbon businesses that could account for 15-20% of sales by 2040.
Oil and Energy Companies Showing Interest in Renewables
TotalEnergies is one of the oil and gas companies that is showing interest in the renewable energy space. Other large oil and gas companies like BP plc (BP - Free Report) , Eni SpA (E - Free Report) and Shell plc (SHEL - Free Report) are investing heavily in renewable energy.
BP is planning to achieve 50 GW of renewable power capacity by 2030, while also scaling up hydrogen and bioenergy initiatives. Eni is focusing on renewable energy and green chemistry, with a goal of reaching 15 GW of capacity by 2030. Shell plans to invest billions each year in its Renewables and Energy Solutions division, focusing on utility-scale solar and wind projects.
The Zacks Consensus Estimate for BP, E and SHEL’s 2026 earnings per share indicates year-over-year growth of 23.26%, 49.71% and 26.83%, respectively.
Share Price Movement of TTE
In the past month, shares of TTE have rallied 15% compared with the industry’s 16% growth.
View the Zacks #1 Rank List
Image: Bigstock
TotalEnergies, Masdar Form JV to Support Renewable Energy Use in Asia
Key Takeaways
TotalEnergies SE (TTE - Free Report) announced that it has entered into a $2.2 billion joint venture with Abu Dhabi Future Energy Company PJSC – Masdar to combine their onshore renewable energy operations across nine countries in Asia.
As demand for clean electricity rises rapidly across Asia, this partnership combines capital and expertise to deliver renewable energy at the scale and pace required. Once the transaction is completed, the joint venture will serve as the exclusive platform for both companies to develop, build, own and operate onshore solar, wind and battery storage projects across nine Asian countries.
The joint venture will have a portfolio comprising 3 gigawatts (“GW”) of operational assets and 6 GW of projects in advanced stages of development, which are expected to become operational by 2030. Each partner will contribute assets of similar value.
Demand for Renewable Energy Is Rising in Asia
Rapid urbanization, the growth of manufacturing and data center development are collectively increasing demand for clean electricity in Asia. Moreover, renewable energy is increasingly becoming cost-competitive, with solar PV and onshore wind often cheaper than new or existing coal and gas plants.
Multinational companies in Asia are committing to 100% renewable energy, driving faster deployment. Growing climate concerns, net-zero targets and advances in grid modernization and battery storage are making solar and wind more reliable and scalable sources of power.
Amid such a backdrop, the joint venture between TotalEnergies and Masdar will be able to reap the benefits of rising demand for clean energy.
TotalEnergies Renewable Electricity Generation Plans
TotalEnergies’ gross installed renewable power generation capacity reached 34.1 GW at the end of 2025. The company plans to expand this capacity to 100 GW by 2030.
TotalEnergies aims to grow its electricity production by around 20% annually through 2030, targeting 100-120 TWh of generation per year. Of this total output, about 70% is expected to come from renewable energy sources.
TotalEnergies is building a portfolio of low-carbon businesses that could account for 15-20% of sales by 2040.
Oil and Energy Companies Showing Interest in Renewables
TotalEnergies is one of the oil and gas companies that is showing interest in the renewable energy space. Other large oil and gas companies like BP plc (BP - Free Report) , Eni SpA (E - Free Report) and Shell plc (SHEL - Free Report) are investing heavily in renewable energy.
BP is planning to achieve 50 GW of renewable power capacity by 2030, while also scaling up hydrogen and bioenergy initiatives. Eni is focusing on renewable energy and green chemistry, with a goal of reaching 15 GW of capacity by 2030. Shell plans to invest billions each year in its Renewables and Energy Solutions division, focusing on utility-scale solar and wind projects.
The Zacks Consensus Estimate for BP, E and SHEL’s 2026 earnings per share indicates year-over-year growth of 23.26%, 49.71% and 26.83%, respectively.
Share Price Movement of TTE
In the past month, shares of TTE have rallied 15% compared with the industry’s 16% growth.
Price Performance (One month)
Image Source: Zacks Investment Research
TTE’s Zacks Rank
TotalEnergies currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.