Company enters the wind energy market in the country and expands its portfolio of solar projects under development.
The Portuguese company Galp closed agreements with SER Energia and Casa dos Ventos for the acquisition of 4.8 GW in new renewable energy projects in Brazil. The asset portfolio, under development, will allow the company to more than double its global renewable energy portfolio.
The transaction also marks the company’s expansion into the wind energy market in Brazil. Until then, the Portuguese oil company only had photovoltaic solar energy projects in the country.
The agreement with SER Energia contemplates the acquisition of photovoltaic solar energy projects under development, with a maximum total capacity of 4.6 GW peak. The contract with Casa dos Ventos includes a group of 216 MW wind farms under development in the Northeast.
Galp is Brazil’s third largest oil and gas producer, through Petrogal, a partnership with China’s Sinopec.
In October 2021, the Portuguese company debuted in the Brazilian renewable energy generation market, through an agreement with SER Energia for the acquisition of 594 MW in solar projects under development in Bahia and Rio Grande do Norte.
Galp is now expanding its operations in the sector, incorporating wind farms and new solar projects.
In a note, Galp’s director of operations in the areas of Renewables and New Businesses, Georgios Papadimitriou, said that Brazil has driven the company’s growth in the last 12 years, through projects in the pre-salt, but that new contracts in the area of ??renewables they now allow the company to add “a new growth engine”.