Petrobras and Total sign renewables pact

BRAZIL: Oil and gas giants Petrobras and Total have extended their partnership with a new memorandum of understanding to investigate wind and solar opportunities in Brazil.

Petrobras operates 104MW of onshore wind power in Brazil
Petrobras operates 104MW of onshore wind power in Brazil

Brazil’s Petrobras said the partnership is non-binding but "indicates the willingness of the companies to work together to develop projects in these segments".

It builds on a strategic alliance agreement signed in February 2017 in the upstream and downstream oil and gas industries in the country.

"The conclusion of this agreement is part of Petrobras’ strategy to develop high-value businesses in renewable energy in partnership with major global players, to facilitate the transition to a low-carbon matrix," Petrobras said in a statement.

Petrobras currently operates 104MW of onshore wind power in Brazil, across four sites.

France-based Total, through its Total Eren renewable energy subsidiary has a 140MWp solar portfolio in Brazil. Worldwide, it has a 1.1GW renewable energy portfolio 

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