Energy conglomerates TotalEnergies, Cathay, and Dajia Insurance collaborate on a 1.5 GW solar power project for industrial clients in China, funding and managing the operation

TotalEnergies and Dajia Investment Holdings Team Up for Solar Power Projects in China

TotalEnergies, a global multi-energy company, is making strides in the renewable energy sector, particularly in China. The French company generated over 33 TWh of electricity in 2022, with a gross renewable electricity generation installed capacity of 17 GW.

In a significant move, TotalEnergies has partnered with a Chinese innovation investment fund to finance and operate solar power projects for commercial and industrial customers in China. Dajia Investment Holdings Co., Ltd., a professional alternative asset management platform under Dajia Insurance Group, will bring its focus on investments in new infrastructure assets such as data centers, renewables, and multi-family to the table.

Cathay Capital, with a presence on four continents and an excellent network of business relationships in China, will bring its experience and expertise in private equity to the partnership. This collaboration strengthens the collaboration between Chinese and French enterprises.

The joint venture is the first of its kind in China, focusing on investing in commercial and industrial distributed photovoltaic and energy storage assets. This marks a significant step for Dajia Investment Holdings Co., Ltd., as it is their initial foray into this field.

TotalEnergies aims to grow its power generation to more than 100 TWh by 2030 and aspires to be among the world's top 5 producers of electricity from wind and solar energy. The company has already seen rapid growth in its solar power capacity for commercial and industrial customers in China, reaching 500 MW installed capacity by the end of 2023.

The benefits of a solar power installation for commercial and industrial customers include a secure green electricity supply at an affordable price and the ability to reduce carbon footprint for sustainable growth. Green infrastructure investment is crucial for future energy transitions, according to Cathay Capital.

TotalEnergies' solar power projects already cover over 18 provinces in China, with more than 200 commercial and industrial customers. The joint venture aims to grow the portfolio from 500 MW of capacity to 1.5 GW by 2028.

It is important to note that TotalEnergies SE and its subsidiaries do not assume any obligation to update forward-looking information or statements.

This partnership is a testament to TotalEnergies' commitment to energy that is ever more affordable, cleaner, more reliable, and accessible, and a significant step towards a sustainable future for China's commercial and industrial sectors.

Energy conglomerates TotalEnergies, Cathay, and Dajia Insurance collaborate on a 1.5 GW solar power project for industrial clients in China, funding and managing the operation