Brazil: Petrobras seeks other partners to develop ‘offshore’ wind farms

Brazilian state-owned oil company Petrobras said today it is seeking partners for new offshore wind power projects and other renewable sources.

“Our appetite for ‘offshore’ wind energy is total. We are talking to other companies,” said Mauricio Tomalsquim, director of Energy Transition at Petrobras, in a conference call with investors.

The executive advanced that the talks to join new partners are not limited to floating wind farms but also other technologies and renewable sources, such as green hydrogen.

“Our priority is to develop these projects in associations with other companies for several reasons, among which because it reduces the amount of investment committed and allows the sharing of risks and experiences,” he said.

Since Luiz Inácio Lula da Silva assumed his third term as President of Brazil last January, the state-controlled but publicly traded company has announced the beginning of an ambitious energy transition process.

Although the oil giant does not plan to abandon its main assets or the exploration of hydrocarbons, it will bet increasingly on renewables, especially offshore wind power, which has logistical advantages since it is an important oil producer in deep waters.

One of the first steps in this strategy was the signing in March of an agreement with Equinor for the installation of seven offshore wind farms in Brazil with a combined capacity to generate 14.5 gigawatts (GW) of energy, practically the same as the Itaipu hydroelectric plant (14 GW), the largest generator of energy in the Americas in its segment.

“The association with Equinor is just beginning. We have already applied for licenses to develop the parks, but we are still waiting for the regulatory framework to be defined,” said Tomalsquim.

Despite studies indicating that Brazil has the potential to produce up to 697 GW in marine areas up to 50 meters deep, the government has not regulated the legal framework for this sector, which is expected to be in place by next June.

“We depend on the regulation of the legal framework to start the technical and economic feasibility analysis. We are in a very initial process,” concluded the director.

With information from Lusa

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