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Petrobras and Equinor Sign Agreement for Offshore Wind Projects

Written by Paulo Nogueira

Published on 26/09/2018 at 23:22

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The Companies Will Work Together Using Their Experiences and Knowledge to Identify the Feasibility of Potential Projects in the Next Two Years

Petrobras and the Norwegian company Equinor signed a Memorandum of Understanding (MoU) on Wednesday (26) to expand their strategic partnership. The goal is to promote the development of initiatives focused on renewable energy in line with the business model of both companies. The agreement specifies that the companies will conduct studies aimed at developing a potential offshore wind project in Brazil.

“We are happy to sign another MoU with Petrobras, further strengthening our strategic partnership. Brazil has great potential in renewable energy. We want to understand how our expertise can contribute to offshore wind energy generation in the country, as we already do in Europe,” said Anders Opedal, president of Equinor in Brazil.

Brazil, due to its good wind conditions, is a country with significant potential for offshore wind energy generation.

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Equinor is one of the leading global companies in offshore wind energy generation, operating the world’s first commercial offshore wind farm using floating turbines: Hywind Scotland, located off the coast of the United Kingdom. In the same region, Equinor operates two other large-scale offshore wind farms, both with fixed turbines on the seabed (Sheringham Shoal and Dudgeon). The three facilities provide renewable energy to over 650,000 British households. Other large-scale offshore wind energy projects are also being developed in other regions of the United Kingdom, Germany, Poland, and the United States.

“We leverage our extensive offshore experience and combine oil and gas technology with existing technologies in the wind field, so that offshore wind energy generation becomes possible. Engineers accustomed to working with oil and gas are now using their knowledge to develop offshore wind farms,” adds Opedal. Equinor expects that a significant portion of global electricity will be supplied by onshore and offshore wind farms by 2050.

Equinor’s plans with Petrobras are to develop a profitable business model for renewable energy generation, starting with offshore wind and then increasingly moving to other sources, such as solar. The company believes that energy should not only be safe and sustainable but also competitive, and plans to allocate 15% to 20% of its investments to renewable energy projects by 2030.

In Brazil, Equinor holds a 43.75% stake in Apodi, a solar project under construction in Quixeré, Ceará, operated by Scatec Solar. This is the first investment made by Equinor in solar energy worldwide. With 162MW, Apodi will supply electricity to 160,000 homes by the end of this year.

Equinor and Petrobras also have a strategic partnership in the Roncador field aimed at increasing oil recovery factors. The companies share technology, skills, and expertise to maximize the value of the field and extend its productive life.

Petrobras and Equinor Sign Agreement for Offshore Wind Projects

The Companies Will Work Together Using Their Experiences and Knowledge to Identify the Feasibility of Potential Projects in the Next Two Years

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