Petrobras, Equinor to pursue 14.5 GW of offshore wind in Brazil

Brazilian state-run oil and gas company Petrobras (BVMF:PETR4) and Norwegian oil and gas group Equinor ASA (NYSE:EQNR) announced on Monday a collaboration to study the potential for up to 14.5 GW of offshore wind projects in Brazil.

According to a joint announcement, the companies signed a letter of intent committing to assess the technical, economic, and environmental feasibility of seven schemes.

The letter of intent builds on a previous agreement inked in 2018, which at the time covered the Aracatu I and II offshore wind projects, located on the coast between the southeastern states of Rio de Janeiro and Espirito Santo.

In addition to these two projects, Petrobras and Equinor add to their partnership the Mangara scheme on the coast of Piaui, Ibitucatu on the coast of Ceara, Colibri on the coast between Rio Grande do Norte and Ceara, as well as the Atoba and Ibituassu projects, both on the coast of Rio Grande do Sul in the south.

Petrobras president Jean Paul Prates said the partnership will combine the Brazilian giant’s offshore technological innovation capacity and local experience with Equinor's expertise in offshore wind projects.

“It should be mentioned that these are feasibility studies and any further investment will depend on the in-depth analysis of their feasibility, as well as regulatory changes necessary to enable the government to authorize these activities”, Prates noted.

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