Brazil okays Casa dos Ventos, TotalEnergies 12-GW renewables JV

Brazil’s competitors regulator CADE has given the inexperienced gentle to the joint venture (JV) deal between French TotalEnergies SE (EPA:TTE) and native renewable power developer Casa dos Ventos specializing in constructing and working 12 GW of wind and photo voltaic parks within the South American nation.

Particularly, TotalEnergies will purchase a 34% stake within the Brazilian firm’s energy era section, thus making a BRL-12.6-billion (USD 2.4bn/EUR 2.3bn) joint enterprise.

Casa dos Ventos chief govt, Lucas Araripe, mentioned that the partnership with TotalEnergies permits the corporate to enter new segments, akin to hydrogen, ammonia and offshore wind energy.

With the conclusion of the deal, Casa dos Ventos’s operations are actually bundled into two corporations — the three way partnership with TotalEnergies will deal with energy era and be in control of the development and operation of renewable power tasks. The second firm will deal with the event of greenfield tasks to help the expansion of the brand new platform.

(BRL 1.0 = USD 0.196/EUR 0.180)

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