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

• Brazil's competitors regulatory authority CADE has okayed to the joint venture (JV) deal between French TotalEnergies SE (EPA: TTE) and regional renewable energy developer Casa dos Ventos concentrating on structure as well as operating 12 GW of wind and solar parks in the South American country.

Specifically, TotalEnergies will certainly acquire a 34% stake in the Brazilian company's power generation segment, hence producing a BRL-12.6-billion (USD 2.4 bn/EUR 2.3 bn) joint company.

Casa dos Ventos president, Lucas Araripe, claimed that the partnership with TotalEnergies allows the business to enter new segments, such as hydrogen, ammonia and overseas wind power

With the final thought of the deal, Casa dos Ventos's procedures are currently bundled right into two business-- the joint venture with TotalEnergies will certainly focus on power generation and also supervise of the construction and also operation of renewable resource projects. The second business will focus on the growth of greenfield projects to sustain the development of the new platform.