By Mauro Orru
Total SE said Thursday that it has signed an agreement with Hanwha Group's affiliate 174 Power Global to establish a joint venture for the development of solar and energy storage projects in the U.S.
The French oil-and-gas major said the evenly split joint venture would develop 12 projects with a cumulative capacity of 1.6 gigawatts.
The projects in Texas, Nevada, Oregon, Wyoming and Virginia will generate clean and reliable energy across the U.S., Total said.
"This transaction is a first significant step for Total in the U.S. utility scale solar market, in line with our 2025 ambition to achieve 35 gigawatts of renewables production capacity worldwide," said Julien Pouget, director of renewables at Total.
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(END) Dow Jones Newswires
January 14, 2021 08:59 ET (13:59 GMT)Copyright (c) 2021 Dow Jones & Company, Inc.