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State-Owned Company Aims for 5 GW of Renewables by 2028. Investment in Wind and Solar, Photovoltaic Plants, Onshore and Offshore Wind, and Low-Carbon Hydrogen.
Petrobras has announced its plan to capture a 10% share of the centralized wind and solar energy market in Brazil by 2028, according to a presentation made for investors in New York this Tuesday (31/1). The 2024-2028 strategic plan of Petrobras aims to achieve approximately 5 GW of photovoltaic and wind capacity in operation or in construction phase.
To achieve its goals, the oil company plans to invest US$ 5.2 billion in renewable energies over the period. This investment is part of the significant increase in investments in low-carbon projects, which will receive US$ 11.5 billion, double the previous plan.
Petrobras Invests in Renewable Energies
Only this year, the oil company intends to acquire 2 GW of onshore wind and solar assets, partnering with experienced developers, according to President Jean Paul Prates.
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‘We are an oil company in transition. We are gradually transforming Petrobras, investing in new energies, without suddenly giving up oil production’, said the executive during the event, according to a statement distributed by the company.
Brazil currently has 28.9 GW of operational wind power and another 11.7 GW of centralized photovoltaic solar. There are also another 26 GW of distributed solar generation.
The decarbonization initiatives are led by the Director of Energy Transition and Sustainability, Maurício Tolmasquim, and will have more funding than the oil and gas exploration, which is allocated US$ 7.5 billion.
The renewable expansion will be done with onshore wind and photovoltaic plants.
The state-owned company signed a non-binding memorandum of understanding with TotalEnergies and Casa dos Ventos to evaluate investments in onshore wind projects, offshore wind, solar and low-carbon hydrogen.
And closed a deal with WEG to invest R$ 130 million in the development of a 7 MW wind turbine.
Petrobras and the Wind Energy Market
Only this year, the oil company intends to acquire 2 GW of onshore wind and solar assets, and…
Renewable Expansion of Petrobras
Only this year, the oil company intends to acquire 2 GW of onshore wind and solar assets, and…
Source: EPBR
