13/05/2026 by Thomas Clark
French oil and gas company TotalEnergies is joining forces with Nextnorth, the renewable energy developer, and UAE clean energy expert, Masdar, on a new solar energy project based in the Philippines.
The businesses confirmed that together they have completed necessary financing and begun the build phase of the 440 MW solar power initiative that has an approximate cost of $300 million.
Finance for the project was supplied by three different global banks, Standard Chartered, INH Bank and the Sumitomo Mitsui Banking Corporation. According to the partners, the recent transaction is the biggest international financing seen for a Philippines solar energy project to date.
Solar energy generation projects require lubricants for power plants and tracking systems that provide thermal efficiency, high-temperature stability and protection against corrosion. As a result, key lubricants used include high performance grease, dielectric fluids like transformer oil, synthetic heat transfer fluid (HTF) and high specification turbine oil to maintain steam systems.
No stranger to specialised lubricants, TotalEnergies provides a wide range of fluids, greases and oils for the power generation sector via its respected brand Total Lubricants.
The new project’s commencement follows the announcement of an agreement last month between TotalEnergies and Masdar. The companies merged their renewable activities onshore in nine Asian nations, including the Philippines, as part of a venture valued at $2.2 billion.
TotalEnergies’ Senior Vice President for Renewables, Olivier Jouny, commented that the company was delighted to begin construction on the large-scale project with its partner Nextnorth and contributing to the Philippines’ goal of growing renewables in its current energy generation efforts.
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