CADE Approves Renewable Energy Joint Venture Valued at R$ 12.6 Billion Between Casa dos Ventos and TotalEnergies

Written by Ruth Rodrigues

Published on 25/01/2023 at 16:56

Updated on 25/01/2023 at 17:13

Foto: Divulgação

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A joint venture focused on the renewable energy market is currently valued at R$ 12.6 billion and promises to expand operations in the segment. Cade approved the union of Casa dos Ventos and TotalEnergies in this project.

For this Wednesday, (01/25), the project for the union of Casa dos Ventos and TotalEnergies in a joint venture valued at over R$ 12.6 billion is progressing successfully. The Administrative Council for Economic Defense (Cade) approved the creation of the new company, which will focus on the national renewable energy market over the next few years. The companies will come together for future projects aimed at hydrogen, ammonia, and offshore wind in Brazil.

Casa dos Ventos and TotalEnergies Obtain Cade Approval for Creation of Joint Venture Focused on the Brazilian Renewable Energy Market

The renewable energy sector in Brazil has been expanding increasingly over the past few years, with several companies turning to projects in the area.

TotalEnergies and Casa dos Ventos have united to form a joint venture valued at over R$ 12.6 billion, focused on engaging in renewable energy projects.

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Now, Cade has granted the necessary approval for the companies to proceed with the union and creation of the new joint venture for the sector.

According to the companies, the transaction is the largest in the Brazilian renewable energy market and involved R$ 4.2 billion in contributions and assumption of debts.

It marks a strong investment by both companies in the segment, one of the most promising for the coming years in the national market.

The arrival of the new investor in the joint venture was announced last year, in October.

With Cade’s approval for the company, TotalEnergies now holds 34% of Casa dos Ventos’ energy generation segment.

Lucas Araripe, executive director of Casa dos Ventos, emphasized that the new partnership expands the operations of both companies in hydrogen, offshore wind energy, and ammonia segments.

“The new partnership makes our energy more competitive and enables a faster expansion of our generation arm. In addition to bringing in new capital, the partnership strengthens our credit capacity and broadens our client portfolio,” he stated.

Casa dos Ventos already has a pre-contract with the Pecém Port Complex (CIPP) in Ceará for the production of hydrogen and ammonia.

Now, the joint venture focused on the renewable energy market will be able to harness the potential of this project.

Casa dos Ventos and TotalEnergies Organize as a Joint Venture to Focus on Renewable Energy Projects

Following Cade’s approval for the union of the companies, Casa dos Ventos and TotalEnergies are organizing for future projects.

The energy generation company, with Total’s participation, will be responsible for the construction and operation of renewable energy ventures.

The other company will focus on scouting opportunities and developing greenfield projects.

Even with the union to form the joint venture, shareholders will remain in both companies, as well as in the ongoing projects.

For the coming years, the company will focus on renewable energy production projects.

TotalEnergies is developing 9 GW of offshore wind generation capacity along the Brazilian coast, with three parks in Ceará, Rio de Janeiro, and Rio Grande do Sul.

It also holds a stake in a portfolio of 6 GW in offshore wind projects abroad.

Thus, Cade’s approval for the joint venture between TotalEnergies and Casa dos Ventos marks a new journey in the renewable energy market.

CADE Approves Renewable Energy Joint Venture Valued at R$ 12.6 Billion Between Casa dos Ventos and TotalEnergies

A joint venture focused on the renewable energy market is currently valued at R$ 12.6 billion and promises to expand operations in the segment. Cade approved the union of Casa dos Ventos and TotalEnergies in this project.

Casa dos Ventos and TotalEnergies Obtain Cade Approval for Creation of Joint Venture Focused on the Brazilian Renewable Energy Market

Major Oil, Gas, and Energy Event Will Take Place in Brazil: Macaé Energy Will Gather Petrobras, Equinor, Prio, Among Other Suppliers and Energy Executives for Business, Networking, and Employment Opportunities

Casa dos Ventos and TotalEnergies Organize as a Joint Venture to Focus on Renewable Energy Projects

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CADE Approves Renewable Energy Joint Venture Valued at R$ 12.6 Billion Between Casa dos Ventos and TotalEnergies

A joint venture focused on the renewable energy market is currently valued at R$ 12.6 billion and promises to expand operations in the segment. Cade approved the union of Casa dos Ventos and TotalEnergies in this project.

Casa dos Ventos and TotalEnergies Obtain Cade Approval for Creation of Joint Venture Focused on the Brazilian Renewable Energy Market

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Casa dos Ventos and TotalEnergies Organize as a Joint Venture to Focus on Renewable Energy Projects

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