Galp to purchase 4.8 GWp of solar, wind projects in Brazil

May 3, 2022 12:48 PM ET
  • Portuguese power group Galp Energia SGPS SA (ELI: GALP) introduced today that it has accepted acquire a portfolio of solar and also wind projects in Brazil with an incorporated capacity of 4.8 GWp.
Galp to purchase 4.8 GWp of solar, wind projects in Brazil

Under a framework agreement with Brazilian solar designer SER Energia, Galp consented to purchase 3.6 GW/4.6 GWp of projects under growth. The second agreement with Casa dos Ventos see the Portuguese company take a 216-MW cluster of wind farm projects currently in the operate in Brazil's Northeast area.

All projects will certainly be acquired upon bulk. Financial details were not revealed.

The purchase will help the oil-and-gas significant to alter its business focus in Brazil, Galp ´ s Renewable Energy and also New Businesses COO, Georgios Papadimitriou, claimed.

Galp arrived in the Brazilian renewable energy market in 2021 with an agreement with SER Energia to acquire a 282-MWp solar (PV) project in the state of Bahia as well as a 312-MWp plan in Rio Grande do Norte. The take care of Casa dos Ventos will assist the business branch off right into the neighborhood wind power market.

With the most recent transaction, Galp's renewable energy portfolio now stands at 9.6 GW of projects in several phases of advancement in Brazil and also the Iberian Peninsula. The company currently has 1.2 GW of installed solar PV capability in the Iberian Peninsula.

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