Oil firm Petrobras plans to become Brazil’s top wind power developer

 (Reuters) – Brazil’s state-run oil company Petrobras (PETR4.SA) will present on Wednesday new initiatives aiming to make the company the country’s biggest developer of wind energy.

Chief Executive Jean Paul Prates and Mauricio Tolmasquim, Petrobras’ head of energy transition and sustainability, will present the initiatives, the company said in a statement on Tuesday.

Tolmasquim told reporters earlier on Tuesday that Petrobras was evaluating partnerships for greenfield projects and possible mergers and acquisitions, as the firm looks to boost its green energy projects.

“The path we’ve chosen is one of partnerships,” Tolmasquim said at an event in Sao Paulo state, adding the company plans to be a “major player” in energy, hydrogen and carbon capture.

Tolmasquim said Petrobas would focus on cutting emissions from its product portfolio and seek decarbonization through partnerships with other companies.

Petrobras also plans to invest in green “electrons and molecules,” or products which produce and store power while producing negligible amounts of harmful emissions, he said.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Powered by WordPress.com.

Up ↑

%d bloggers like this: