French multinational energy company Total has partnered with solar and energy storage project developer 174 Power Global to develop 12 utility-scale solar and energy storage projects in the US.
The two companies have signed an agreement to form a 50/50 joint venture to develop up to 1.6GW of solar and energy storage capacity.
The projects will be deployed between 2020 and 2024 in Texas, Nevada, Oregon, Wyoming and Virginia.
The joint venture builds on a strong partnership that combines 174 Power Global’s extensive solar project development experience in the US with Total’s decade-long international expertise in the development of solar projects.
174 Power Global is wholly owned by Hanwha Group affiliate.
Julien Pouget, Director Renewables of Total, 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 confident that this will pave the way to more opportunities in the US renewables and storage market.
“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.”
174 Power Global President and CEO, Henry Yun, said: “We are pleased to partner with Total and see significant opportunities for our JV to expand our solar and energy storage footprint.
“Both 174 Power Global and Total have a strong understanding of one another’s business strategies and investment standards. This is a great partnership, and we are excited to work with the Total team and further our joint commitment to clean renewable energy and low-carbon investments.”