TotalEnergies, Masdar Form JV to Support Renewable Energy Use in Asia

TotalEnergies SETTE 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 plcBP, Eni SpAE and Shell plcSHEL 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.

 

Radical New Technology Could Hand Investors Huge Gains

Quantum Computing is the next technological revolution, and it could be even more advanced than AI.

While some believed the technology was years away, it is already present and moving fast. Large hyperscalers, such as Microsoft, Google, Amazon, Oracle, and even Meta and Tesla, are scrambling to integrate quantum computing into their infrastructure.

Senior Stock Strategist Kevin Cook reveals 7 carefully selected stocks poised to dominate the quantum computing landscape in his report, Beyond AI: The Quantum Leap in Computing Power.

Kevin was among the early experts who recognized NVIDIA's enormous potential back in 2016. Now, he has keyed in on what could be "the next big thing" in quantum computing supremacy. Today, you have a rare chance to position your portfolio at the forefront of this opportunity.

This article originally published on Zacks Investment Research (zacks.com).

Zacks Investment Research