TotalEnergies and Nextnorth have achieved financial close and begun construction of a 440 MWp solar project located in Isabela, Philippines. TotalEnergies owns 65 per cent of the project while Nextnorth has a 35 per cent stake in the project. The project is expected to commence operations by the end of 2027. The project is estimated to generate 13.5 TWh of electricity over a period of 20 years.
Additionally, more than half of the electricity generated will be supplied under long-term offtake agreements to AdventEnergy and PrimeRES while the remaining power will be sold to the national grid under the Philippines’ Green Energy Auction Program Round 4. The project cost was approximately $300 million and is financed by Sumitomo Mitsui Banking Corporation, ING Bank, and Standard Chartered.
In April 2026, TotalEnergies secured financing for the Mirny onshore wind and battery energy storage system (BESS) project in Kazakhstan. The project includes a 1 GW onshore wind farm, with 150 turbines and a 600 MWh battery system which will be supplied by Saft, an affiliate of TotalEnergies. The power generated will be sold to the Government of Kazakhstan under a 25-year PPA which was signed in 2023.
