Paris/Abu Dhabi, 2 April 2026 – TotalEnergies, a global integrated multi‑energy company, and Abu Dhabi Future Energy Company PJSC – Masdar, a global clean energy leader, have signed a binding agreement to establish a $2.2bn 50/50 joint venture (JV) that will merge their onshore renewable activities in nine countries across Asia.

As electricity demand accelerates across Asia, this partnership brings together capital and expertise to deliver renewable energy at the scale and speed required. Once the transaction is closed, the JV will act as both companies’ sole vehicle for developing, building, owning and operating onshore solar, wind and battery storage projects in Azerbaijan, Indonesia, Japan, Kazakhstan, Malaysia, the Philippines, Singapore, South Korea and Uzbekistan.

The JV will have a portfolio capacity of 3 GW of operational assets and 6 GW of assets in advanced development that are expected to be operational by 2030. Each partner will contribute assets of comparable value.

“The UAE has established itself as a global energy leader by delivering at scale, investing with conviction, and building partnerships that endure. Masdar epitomizes that approach. We are proud to have pioneered renewable energy deployment in Central Asia and the Caucuses, and we have an expanding portfolio in some of the most attractive growth markets in Asia-Pacific. Asia will be the main driver of global electricity demand growth this decade, and this collaboration with TotalEnergies will accelerate our progress across the continent, unlocking new opportunities to deliver the competitive, reliable energy solutions that our partners and customers need,” said His Excellency Dr. Sultan Al Jaber, UAE Minister of Industry and Advanced Technology and Chairman of Masdar.

 “We are delighted with the signing of this agreement with Masdar, which brings together two major renewable players to build a renewable champion in Asia. It will allow us to combine the strengths of our two companies to secure significant positions in these markets and create more value than if we were acting alone. This agreement is fully in line with the renewable energy strategy of our Integrated Power business. We are also pleased to further deepen, in this area, the long-standing relationship between the United Arab Emirates and TotalEnergies,” said Patrick Pouyanné, Chairman and CEO of TotalEnergies.

“This joint venture reinforces Abu Dhabi’s status as a global center for energy leadership, combining the expertise of Masdar and TotalEnergies to drive renewable energy deployment across Asia. For Masdar, this JV strengthens and diversifies our portfolio, unlocking new opportunities in attractive, high-growth markets, while bringing in a like-minded partner to accelerate growth and deliver additional value in our existing markets.” said Mohamed Jameel Al Ramahi, CEO of Masdar.

The JV, which will be headquartered in Abu Dhabi Global Market (ADGM), will be staffed by around 200 employees from both TotalEnergies and Masdar. The management team for the JV will be announced at a future date. 

The closing of the agreement is subject to regulatory approvals and conditions.

Abu Dhabi, UAE – November 20, 2025: Masdar, a global clean energy leader and a pioneer in green hydrogen, and Tadweer Group, a driving force in unlocking the value of waste, today announced the signing of a Joint Development Agreement (JDA). This agreement aims to progress the development of the first commercial-scale Waste-to-Sustainable Aviation Fuel (SAF) project in Abu Dhabi.

Located in Abu Dhabi, the plant will covert around 500,000 tons of waste into SAF per year, using a hybrid production pathway that combines renewable energy-powered electrolysis producing green hydrogen and waste gasification turning syngas into SAF through various proven chemical processes.

Mohamed Jameel Al Ramahi, Chief Executive Officer at Masdar, said: “Masdar is committed to accelerating the global energy transformation through partnerships and delivering innovative solutions that meet customer needs. This project will advance the UAE’s leadership in sustainable aviation, supporting the growth of a sector critical to the nation’s economic development, while driving its decarbonization. We look forward to working closely with Tadweer Group to bring this project to fruition and deliver tangible emissions reductions for the UAE and beyond.”

Ali Al Dhaheri, Managing Director and Chief Executive Officer, Tadweer Group, said: “This agreement marks a pivotal step in Tadweer Group’s mission to unlock waste as a valuable resource with the potential to be converted to key energy resources. Partnering with Masdar, we are advancing the UAE’s leadership in clean energy innovation by transforming waste into SAF, a vital product for maintaining a cleaner environment. Together, we are showcasing the incredible potential of waste and contributing to the nation’s Net Zero ambitions, setting a benchmark for sustainable transformation worldwide.”

Once operational, the project is expected to serve multiple markets, positioning Abu Dhabi as a regional hub for SAF and supporting the decarbonization of a sector that accounted for over 18 percent of the UAE’s GDP in 2023, according to IATA data. SAF has the potential to reduce lifecycle carbon emissions by up to 80 percent compared with conventional jet fuel, according to International Air Transport Association (IATA) estimates.

The project also represents a key step toward delivering on several strategic national priorities, including the UAE General Policy for SAF, Abu Dhabi’s Low-Carbon Hydrogen Policy, the National Hydrogen Strategy, the Abu Dhabi Climate Change Strategy, and the UAE Net Zero by 2050 Strategic Initiative.

By transforming waste into clean energy, the project will also contribute to Tadweer Group’s strategic ambition of diverting 80 percent of waste from Abu Dhabi landfills by 2030, and creating new value chains in waste management, green hydrogen, and renewable fuels.

Building on Masdar’s extensive experience in renewable energy and hydrogen, and Tadweer Group’s expertise in unlocking the value of waste through multiple local and international partnerships, the project will reinforce the UAE’s position as a pioneer in clean energy innovation. The initiative aligns with Abu Dhabi’s ambition to become a global leader in the production of low-carbon fuels, creating synergies across renewable energy, waste valorization, and sustainable transport.