Brazil’s Petrobras sees offshore wind power as alternative for the long-term

The chief executive of Brazil’s state-run oil company Petrobras, Jose Mauro Coelho, said on Wednesday that offshore wind power is among the alternatives being studied by the firm for the long run.

Speaking at an event about carbon markets, Coelho said he sees potential synergies between offshore wind power and Petrobras’ leading position in oil exploration in deep and ultra-deep waters.
Brazil’s state-controlled oil giant Petrobras is working with Equinor ASA to develop an offshore wind project in Latin America’s largest country.
The wind farm off the coast of Rio de Janeiro state will provide four gigawatts of capacity, Petrobras Chief Executive Officer Jose Mauro Coelho said at an event in Rio de Janeiro on Wednesday. Petroleo Brasileiro SA, as the energy producer is formally known, is also focusing on developing advanced biofuels, including jet fuel.
Oil giants including Shell Plc are looking to tap Brazil’s offshore wind potential as they seek to diversify away from fossil fuels and cut greenhouse gas emissions. The London-based oil major is proposing to build six projects with a combined capacity of 17 gigawatts, which would rival the output of 15 nuclear reactors. Brazil currently has about 21 gigawatts of wind power capacity, all of it onshore, accounting for about 10% of the nation’s overall power generation.

Equinor began seeking environmental permits for two offshore wind projects off the coast of southern Brazil in 2020.

While Petrobras’s Coelho highlighted renewable energy at the event, he also said the world will continue relying on oil for decades and that the energy transition will be slow.