Total and174 Power Global, a wholly owned Hanwha Group affiliate, announced that they have signed an agreement to form a 50/50 joint venture (JV) to develop 12 utility-scale solar and energy storage projects with 1.6 gigawatts (GW) cumulative capacity in the United States.
The projects are from 174 Power Global’s development pipeline.
The first project started production in 2020, and the remainder will come online between 2022 and 2024 and are located in Texas, Nevada, Oregon, Wyoming and Virginia.
The JV builds on a partnership that combines 174 Power Global’s solar project development experience in the U.S. with Total’s international expertise in the development of solar projects.
“This transaction is a first significant step for Total in the US utility scale solar market, in line with our 2025 ambition to achieve 35 GW of renewables production capacity worldwide. I am confident that this will pave the way to more opportunities in the US renewables and storage market,” said Julien Pouget, Director Renewables of Total.
“We are pleased to partner with Total and see significant opportunities for our JV to expand our solar and energy storage footprint,” said 174 Power Global President and CEO, Henry Yun, PhD. “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.”