Equinor is looking for investment opportunities to develop offshore wind energy projects in Brazil, CEO Anders Opedal told Reuters on Tuesday.
In August, Equinor applied for investments in 4 GW of offshore wind energy projects with Ibama. christening of Aracatu I and II, the schemes have 2 GW of capacity each. Together they will be able to generate enough energy to meet the demand of 2 million homes.
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Equinor's participation in Brazilian soil has increased in recent years
In 2018, the Norwegian company signed a memorandum of understanding (MoU) with Brazilian state oil and gas company Petrobras to collaborate on offshore wind projects, but the latter's investment interest in renewables has since waned.
Brazil has yet to build its first offshore wind farm. Recently, the Ceará state government announced its intention to connect around 5 GW of offshore wind capacity over the next five years.
Equinor's presence in Brazil
Equinor has been present in Brazil for nearly two decades and the country can be seen as a core area for long-term growth. The company is the second largest oil operator in the country and has also recently expanded its investments in renewable energy in Brazil.
The Peregrino field – in the Campos Basin – is Equinor's most important project in Brazil and its largest international undertaking as an operator.
Brazil's role
Technology will play an important role in the future expansion of wind energy in Brazil. Such growth is projected to occur soon. The regulation for the installation of offshore wind farms is already being discussed in the Brazilian Congress, and the sector is preparing for new developments, which indeed have enormous potential, especially on the northeast coast of the country.
“In recent years, Brazil has very rapidly expanded its wind power generation capacity, which currently exceeds 13 GW, around 8% of the country's total capacity. These numbers make wind energy the second source of electricity in the Brazilian grid. All this production is done on land, in many wind farms spread throughout the country, but mainly concentrated in the Northeast, where the wind potential is excellent”, highlights Professor Simos.
