TotalEnergies and Masdar join forces in the fight against climate change

It is reported that upon completion of the deal, the joint venture will become the exclusive platform for the development, construction, ownership, and operation of onshore solar and wind energy projects, as well as energy storage systems, in Azerbaijan, Indonesia, Japan, Kazakhstan, Malaysia, the Philippines, Singapore, South Korea, and Uzbekistan. The JV’s portfolio will include operating assets with a total capacity of 3 GW, as well as projects under active development with a capacity of 6 GW, expected to be commissioned by 2030.

The joint venture will be headquartered in the UAE and based in the Abu Dhabi Global Market (ADGM) international financial center. Around 200 employees from both companies will work within the new entity.

The creation of the JV aligns with TotalEnergies’ strategy to diversify its energy business and Masdar’s global expansion plans.

Masdar’s renewable energy projects and achievements are already well known. In January, UAE Minister of Industry and Advanced Technology and Masdar Chairman Sultan Ahmed Al Jaber told journalists that the company’s renewable energy portfolio increased from 51 GW to 65 GW in 2025. The company achieved this milestone just 20 years after the UAE made a strategic decision to invest in clean energy. He emphasized that the company aims to reach a capacity of 100 GW. Masdar plans to increase its energy capacity by an average of 10 GW annually through 2030 via new projects, according to AZERTAC.

Source: totalenergies

According to the Energy and Industry of Russia website, the UAE Energy Strategy 2050 aims to increase the share of clean energy to up to 50 percent of the total energy mix and reduce the carbon footprint of electricity generation by 70 percent. The UAE government has announced its readiness to invest 600 billion dirhams (over $163 billion) in energy infrastructure. A key component of the strategy is the Mohammed bin Rashid Al Maktoum Solar Park, which covers 77 square kilometers. It is one of the world’s largest renewable energy projects based on the independent power producer model.

In addition to photovoltaic solar plants, the project includes concentrated solar power, with total capacity expected to exceed 4,000 MW. By 2030, the park, whose construction began in 2012, is expected to generate 5 GW of renewable energy.

According to forecasts, the UAE energy market will reach $1.3 trillion by 2027, with an annual growth rate of 3.5 percent.

TotalEnergies has also made significant progress in green investments. In April 2025, the company completed three international deals to acquire renewable energy projects in Europe (VSB Group), Africa (SN Power), and North America (RES), according to Neftegaz.RU. In June, it acquired renewable generation assets with a capacity of 435 MW in the United Kingdom. In December, TotalEnergies finalized the sale of a 50 percent stake in a portfolio of wind and solar power plants with a capacity of 424 MW in Greece. In February 2026, the French company signed long-term renewable electricity supply contracts for Airbus factories in Europe, among other initiatives.

Azerbaijan has implemented several projects in partnership with Masdar. The company entered Azerbaijan in February 2020, when a cooperation agreement was signed between the Ministry of Energy of Azerbaijan and Masdar.

Source: APA

On October 26, 2023, the Garadagh solar power plant, with a capacity of 230 MW, built by Masdar, was commissioned. It became the largest solar power plant in the South Caucasus and is capable of supplying electricity to 110,000 households, effectively powering an entire city. During the opening ceremony, Masdar signed three investment agreements with the Azerbaijani side in the field of green energy with a total capacity of 1,000 MW. These include a solar power plant in the Gunes settlement in the Bilasuvar district, a 315 MW solar power plant in the Banka settlement of the Neftchala district, and a 240 MW wind power plant in the Absheron and Garadagh districts. The annual electricity generation of the Bilasuvar solar plant is expected to reach 890 million kWh, while the Neftchala plant will produce 640 million kWh.

Together, these projects will supply electricity to more than 135,000 households and help avoid over 730,000 tons of CO₂ emissions annually.

These three agreements represent the initial phase of executive agreements signed between Azerbaijan and Masdar in June 2022 for the implementation of renewable energy megaprojects with a total capacity of 4 GW.

Construction of the 445 MW Bilasuvar Solar SPV plant began in August 2025. Once completed, it will become the largest in the South Caucasus. For now, this status remains with the Garadagh solar plant. Masdar plans to complete the project by 2027, with solar panels supplied by China Energy Engineering Corporation.

Baku considers Abu Dhabi one of its key partners in the Middle East, including in the renewable energy sector.

Maryam Al Mazrouei, Head of Development and Investment for the CIS region at Masdar, stated during the first Azerbaijan International Investment Forum (AIIF 2025) that the company will invest more than $1.2 billion in renewable energy projects in Azerbaijan. According to her, Masdar, together with its partners, is exploring new initiatives in Azerbaijan, including within the framework of a “green energy corridor” project for electricity exports to Europe, opening additional opportunities for investors.

As for TotalEnergies, the company, which has long been present in Azerbaijan’s oil and gas sector, plans to expand its presence in the country through renewable energy projects. This was stated by Chingiz Orujov, Senior Business Development Manager for Renewable Energy at TotalEnergies Azerbaijan, during the Baku Energy Forum in June 2025.

According to him, the company has signed memorandums with Azerbaijan’s Ministry of Energy to implement projects with a total capacity of 500 MW: 250 MW in Nakhchivan and another 250 MW near the Sangachal terminal. The company actively supports the development of the national energy system and views Azerbaijan as an important partner in its global transition to sustainable energy sources.

The joint venture being created by the French and Emirati companies is expected to further expand renewable energy projects in the region, contributing to efforts to mitigate climate change.

By Tural Heybatov