TotalEnergies has signed a memorandum of understanding with Petrobras and Casa dos Ventos to study the possibilities of joint operations in renewable energy and low-carbon hydrogen in Brazil.
TotalEnergies said in its press release that the agreement will allow the three companies to jointly study investment and investment opportunities in onshore wind, offshore wind, solar and low-carbon hydrogen in the country, leveraging their combined synergies.
Each company will bring its different skills to the cooperation, the company said. Casa dos Ventos Holding, the JV formed by TotalEnergies and Casa dos Ventos is a major player in wind and solar energy in Brazil with a portfolio of 12 GW to be developed in the coming years. Petrobras is Brazil’s largest energy company with recognized technical expertise in the energy domain. As for TotalEnergies, it brings its global multi-energy knowledge and industrial focus to the partnership, the company said in its statement.
“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, President and CEO of TotalEnergies.
TotalEnergies has been operating in Brazil for almost 50 years, through six subsidiaries. The company is active in Exploration and Production, gas, renewable electricity (solar and wind), lubricants, chemicals and distribution. TotalEnergies’ exploration and production portfolio currently includes 11 licenses, of which 4 are operated.
In 2022, the company’s average production in the country was 104,000 barrels of oil equivalent per day. TotalEnergies is investing in the growth of the renewable energy segment in Brazil. Total Eren, a subsidiary of TotalEnergies, has 300 MW of solar and wind projects in operation.
In October 2022, TotalEnergies and Casa dos Ventos created a 34%/66% joint venture to jointly develop, build and operate Casa Dos Ventos’ renewable portfolio.
This portfolio includes 700 MW of onshore wind capacity in operation, 1 GW of onshore wind under construction, 2.8 GW of onshore wind and 1.6 GW of solar projects in very advanced development. In total, the portfolio includes 12 GW of renewable energy projects.
TotalEnergies is also active in the Brazilian fuel distribution market with a network of around 240 service stations, as well as several storage facilities for petroleum products and ethanol.
To contact the author, please email andreson.n.paul@gmail.com
