Portuguese Company GALP Acquires Renewable Energy Projects for Development in Brazil, Expanding Its Operations in the Country’s Wind Sector

The Portuguese Galp Closed Two Agreements with Companies Casa dos Ventos and SER Energia dos Ventos for the Purchase of 4.8 GW in Wind Power Generation Projects in Brazil.

The Portuguese GALP announced on Tuesday (3) two agreements with renewable energy companies SER Energia dos Ventos and Casa dos Ventos for the purchase of 4.8 GW in wind energy projects in the country. The asset portfolio, which is still under development, will enable the company to more than double its renewable energy portfolio. The deal between the companies also marks the company’s expansion into the wind energy market in Brazil. Until then, the Portuguese oil company only had solar energy projects in Brazil.

GALP’s Acquisition in Renewable Energy Aims to Further Foster the Energy Transition in Brazil

The agreement with SER Energia covers the purchase of development projects of solar photovoltaic energy, with a total installed capacity of 4.6 GW peak. The contract with Casa dos Ventos includes a cluster of 216 MW of wind power parks under construction in the Northeast.

According to the company’s COO of renewable energy and new business, Georgios Papadimitriou, the transactions, which did not disclose their values, represent a new engine for expansion for Galp, which is currently the third-largest producer of oil and gas in the country.

In October last year, the company entered the national wind power generation market through an agreement with SER Energia also for the purchase of 594 MW in solar projects under construction in Rio Grande do Norte and Bahia. Now the company is expanding its operations in the segment, incorporating wind energy projects and new solar energy projects.

Galp Is Also One of the Main Solar Energy Producers in the Iberian Peninsula

According to a statement from Georgios Papadimitriou, Brazil has stimulated the company’s expansion in the last 12 years through projects in the pre-salt, however, the new contracts in the renewable energy sector allow the company to add a new engine for expansion.

The oil company is already one of the largest solar energy producers in the Iberian Peninsula, with an installed capacity of 1.2 GW in operation. With the new portfolio of projects acquired in Brazilian territory, the company’s renewable energy portfolio now totals 9.6 GW in various stages of development in Brazil, Portugal, and Spain. The company aims to expand its renewable energy production capacity to 4 GW by 2025 and 12 GW by the next decade.

About the Company

Galp is an energy company that explores, produces, and develops oil and natural gas across four continents. Altogether, the company is composed of 11 geographies, 50 nationalities, and 7,000 experiences.

The company opens itself to the world, gaining new perspectives and anticipating a more sustainable future, which is why the company advocates diversity and promotes opportunities in various business areas. In a fast-paced world seeking new energy sources, Brazil is a key piece in answering the world’s energy needs.

Galp is present in the country through its subsidiary Petrogal Brasil, a pioneer in advancing the pre-salt through the Tupi Field. Currently, the company participates in more than 25 projects in the country, being one of the oil and gas companies that invests the most in the energy transition to renewable sources. Petrogal Brasil also has Sinopec as its shareholder, one of the largest energy groups in the world.