Portugal’s Galp Energia earmarked between 1 billion euros ($1.11 billion) and 1.2 billion euros in annual investment until 2022 in an increase from up to 1 billion under a previous plan, seeking to expand its natural gas and renewable energy business.
The oil company’s chief executive, Carlos Nuno Gomes da Silva, said on Tuesday it would invest 10-15% of the total in new renewable energy, most of it to harness solar power, although not ruling out wind power and other technologies.
Brazil Energy Insight 
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