15 Jan Total to form JV for 1.6GW of solar projects in the US
French energy major Total has announced a 50:50 joint venture (JV) with 174 Power Global – a wholly-owned affiliate of South Korean conglomerate Hanwha Group – to develop 1.6GW of solar and energy storage projects in the US.
The JV pipeline consists of 10 solar and two energy storage projects located in Texas, Nevada, Oregon, Wyoming and Virginia. The first of the facilities reached commercial production last year, while the remainder will come onstream between 2022 and 2024.
Total renewables director Julien Pouget said: “This transaction is a first significant step for Total in the US utility scale solar market, in line with our 2025 ambition to achieve 35GW of renewables production capacity worldwide.
“I am very pleased to extend our long-standing cooperation with the Hanwha Group into renewable energies and successfully contribute to the development of solar power generation in the US,” he added.
Meanwhile, 174 Power Global president and chief executive Henry Yun said the companies share a great partnership. “We are excited to work with the Total team and further our joint commitment to clean renewable energy and low-carbon investments,” he said.