TotalEnergies Partners With Brazil's Casa Dos Ventos to Develop Renewable Portfolio
26 Outubro 2022 - 4:54AM
Dow Jones News
By Giulia Petroni
TotalEnergies SE said Wednesday that it has created a joint
venture with Brazilian developer Casa dos Ventos to build and
operate a 12 gigawatt renewable portfolio.
The French oil-and-gas major said the newly formed JV, of which
it is set to hold 34%, will have the right to acquire the current
and new projects that are or will be developed by CDV as they reach
execution stage.
The company will pay a cash consideration of $550 million and up
to $30 million in earn-out to complete the acquisition, it
said.
The portfolio includes 700 megawatts of onshore wind capacity in
operation, 1 gigawatt of onshore wind under construction, 2.8
gigawatts of onshore wind and 1.6 gigawatts of solar projects under
well-advanced development, according to TotalEnergies.
Write to Giulia Petroni at giulia.petroni@wsj.com
(END) Dow Jones Newswires
October 26, 2022 03:39 ET (07:39 GMT)
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