Energy companies TotalEnergies and ENEOS Corporation announced a series of clean energy-focused collaborations, including the formation of a joint venture agreement to develop distributed solar capacity across Asia, and plans to assess the feasibility of sustainable aviation fuel (SAF) production at an ENEOS refinery in Japan.
Under the newly created 50/50 joint venture, the companies aim to develop 2 GW of decentralized solar capacity over the next five year, with TotalEnergies leveraging its expertise and global footprint, and ENEOS providing renewables expertise and its market presence in Japan to lower the costs of decentralized solutions offered to industrial and commercial customers.
Vincent Stoquart, Senior Vice President Renewables for TotalEnergies, said:
“Through this joint venture we will provide one of the most efficient solutions in Asia to help our B2B customers achieve their sustainability goals while reducing their costs. With this partnership, TotalEnergies further demonstrates its commitment to Asia, a key continent for reaching our target of 100 GW of renewable generation capacity by 2030.”
The partners will also jointly conduct a feasibility study to assess the production of SAF in ENEOS Negishi Refinery in Yokohama city, Japan. SAF is seen by market participants as one of the key tools for the aviation industry to address its emissions impact. SAF is generally produced from sustainable resources, like waste oils and agricultural residues, or even from carbon captured from the air, rather than from fossil fuels. In Japan, the Ministry of Land, Infrastructure, Transport and Tourism has set a target of 10% SAF use to be achieved by 2030.
The two companies stated that they have already started to conduct the study for feedstock procurement and production of SAF related to the project, and that the proposed unit, which would have capacity to produce 300,000 tons per year of SAF, would process waste or residue sourced from the circular economy, mainly used cooking oil and animal fat.
Katsuki Arisa, Senior Vice President, President & CEO of Resources & Power Company, ENEOS Corporation, said:
“We strongly believe TotalEnergies, one of the leading energy companies on a global scale, is the best partner for us since both of us are increasingly developing the renewable energy business in the global energy transition. In addition to the highly competitive business model which TotalEnergies has developed, we will be utilizing our strong brand and customer network in Japan and Asia for the business expansion of this Joint Venture. We are confident that this partnership enables us to expand this business efficiently and effectively in Asia including Japan.”
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