British Credit Agency Ukef Targets Renewable Projects in Brazil for Offshore Wind and Green Hydrogen Business

Written by Ruth Rodrigues

Published on 09/06/2022 at 09:57

Foto: iStock

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With a Large Business Portfolio in the Oil and Gas Sector in Brazil, Ukef Now Seeks Greater Focus on Renewable Ventures in the Country and Intends to Enter into Contracts in the Offshore Wind and Green Hydrogen Sectors

During an event hosted by the British Embassy with businesspeople and representatives from the British government on Tuesday (06/07), the British credit agency UK Export Finance (Ukef) discussed plans for the Brazilian market. According to the company, the focus now is on renewables in the country and potential businesses involving offshore wind power projects and the latest bet of the national energy sector, green hydrogen.

Ukef Aims to Focus on Renewables Within the Brazilian Market, Targeting Green Hydrogen and Offshore Wind Power Businesses in the Country

The UK’s export credit agency, Ukef, is on a trade mission in Rio de Janeiro this week and held a meeting with representatives from the national and English energy sectors to discuss potential projects in the country. This is because the company now intends to enter into new contracts in the green hydrogen and offshore wind sectors in the country, as a way to expand its renewable portfolio in Brazil.

The company already has a significant presence in the national market, having signed a series of contracts with the Brazilian state-owned company Petrobras during 2021 for oil and gas business. Now, Ukef is looking to offer financing lines for purchasing equipment from suppliers in the UK in the new energy segments.

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United Kingdom Seeks to Invest in Energy Transition, and Agency Takes Advantage of Moment to Focus on Contracts for Renewable Energy Generation in the National Market

The focus on energy transition is not only occurring significantly in Brazilian territory but also across the global market, particularly in Europe. An example of this is the UK’s decarbonization plan, which aims to achieve 5 GW of low-carbon hydrogen production capacity by 2030 for use throughout the economy, thus providing a new perspective on the use of alternatives such as green hydrogen and wind power for a more sustainable future.

As a result, British companies are increasingly interested in new renewable energy businesses, as is the case with Ukef, which, while expanding its presence in the sector within the UK, seeks ventures in the international market.

The company also has strong dealings with the oil and gas sector in Brazil, as Petrobras used a credit line from Ukef to finance exploration and production equipment for oil and gas in the Campos, Santos, and Espírito Santo Basins in 2018, and continues with the contracts to this day.

Now, Ukef is not limited to partnering with the Brazilian state-owned company and intends to bring new credit line opportunities for other companies that are developing green hydrogen and offshore wind projects in the country.

British Credit Agency Ukef Targets Renewable Projects in Brazil for Offshore Wind and Green Hydrogen Business

With a Large Business Portfolio in the Oil and Gas Sector in Brazil, Ukef Now Seeks Greater Focus on Renewable Ventures in the Country and Intends to Enter into Contracts in the Offshore Wind and Green Hydrogen Sectors

Ukef Aims to Focus on Renewables Within the Brazilian Market, Targeting Green Hydrogen and Offshore Wind Power Businesses in the Country

United Kingdom Seeks to Invest in Energy Transition, and Agency Takes Advantage of Moment to Focus on Contracts for Renewable Energy Generation in the National Market

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British Credit Agency Ukef Targets Renewable Projects in Brazil for Offshore Wind and Green Hydrogen Business

With a Large Business Portfolio in the Oil and Gas Sector in Brazil, Ukef Now Seeks Greater Focus on Renewable Ventures in the Country and Intends to Enter into Contracts in the Offshore Wind and Green Hydrogen Sectors

Ukef Aims to Focus on Renewables Within the Brazilian Market, Targeting Green Hydrogen and Offshore Wind Power Businesses in the Country

United Kingdom Seeks to Invest in Energy Transition, and Agency Takes Advantage of Moment to Focus on Contracts for Renewable Energy Generation in the National Market

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He transformed an abandoned plastic water tank into an underground house in the “hobbit hole” style, using only repurposed pallet wood, without heavy machinery or expensive labor.

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