Petrobras signs agreement with TotalEnergies and Casa dos Ventos to evaluate renewable energy opportunities

Petróleo Brasileiro S.A. – Petrobras informs that on Thursday (September 14) it signed a non-binding memorandum of understanding with TotalEnergies and Casa dos Ventos to evaluate renewable energy projects in Brazil. The aim is to develop joint studies to study business opportunities in onshore wind, offshore wind, solar and low-carbon hydrogen in the country, using the expertise of each company. The agreement was signed at Petrobras’ headquarters in Rio de Janeiro and was attended by the company’s CEO, Jean Paul Prates; the CEO of TotalEnergies, Patrick Pouyanné; and the CEO of Casa dos Ventos, Mario Araripe.

“Petrobras is taking another important step towards a fair and inclusive energy transition with this new agreement with TotalEnergies and Casa dos Ventos, two heavyweights in renewable energy. Our aim is to work together with major players to unleash investments in low-carbon businesses, boosting the technological research and new business scene in the country. If they are viable and implemented, these initiatives will make a decisive contribution to increasing the supply of renewable energy in the Brazilian market,” said Petrobras CEO Jean Paul Prates.

Petrobras and TotalEnergies are partners in important exploration and production assets in Brazil, such as Mero, Iara, Atapu and Sépia, among others, and have maintained a strategic partnership in the country in the area of research and development since 2017. “The extension of this partnership to the renewables area is a natural step and fits in with the strategy of both companies to advance the just energy transition. Casa dos Ventos, in turn, adds its expertise in the development of onshore wind and solar generation projects in the Brazilian market,” added Prates.

Petrobras: tradition in offshore operations and vast data collection

Petrobras is Brazil’s largest energy company and has recognized technical capacity in several areas. Its current offshore operations could generate important synergies for future offshore wind projects, for example. In addition, Petrobras has an important collection of data and information from the Brazilian coast that could potentially speed up the development of offshore projects.

The agreement will last for two years. During this period, opportunities for joint investment in onshore and offshore wind, as well as hydrogen and solar, will be assessed, in line with the guidelines of Petrobras’ Strategic Plan, which have already been published, which seek diversification in low-carbon businesses, preferably through partnerships that allow risks and expertise to be shared. If these opportunities prove viable and are in the interest of all parties, new binding agreements should be signed so that investments can be made.

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