TotalEnergies, Petrobras and Casa dos Ventos Holding signed a Memorandum of Understanding to evaluate perspectives and joint opportunities in renewable energy and low-carbon hydrogen in Brazil.
This agreement will enable the three companies to jointly study opportunities of investment and offtake in onshore wind, offshore wind, solar and low-carbon hydrogen in the country, capitalising on their combined synergies.
Each company will bring their distinct skills to the cooperation. Casa dos Ventos Holding, the JV formed by TotalEnergies and Casa dos Ventos is the leader of wind and solar energy in Brazil with a 12 GW portfolio to be developed in the coming years. Petrobras is the largest Brazilian Energy company with recognised technical expertise in the energy domain. As for TotalEnergies, it brings its global multi-energy know-how and industrial approach to the partnership.
“Brazil is a great country for developing renewable energies. We are therefore delighted to join forces with Casa dos Ventos and Petrobras to identify potential synergies between our activities, and thus develop profitable renewables opportunities”, said Patrick Pouyanné, Chairman and CEO of TotalEnergies.
As part of its ambition to get to net zero by 2050, TotalEnergies is building a portfolio of activities in electricity and renewables. At the end of July 2023, TotalEnergies’ gross renewable electricity generation installed capacity was 19 GW. TotalEnergies will continue to expand this business to reach 35 GW of gross production capacity from renewable sources and storage by 2025, and then 100 GW by 2030 with the objective of being among the world’s top 5 producers of electricity from wind and solar energy.