Petrobras eyeing $70bn push into 14.5 GW of Brazilian wind farms

Brazilian oil giant, Petrobras, which is 64% state owned, has signed a letter of intent with Norwegian project developer, Equinor, to explore the feasibility of seven different offshore wind projects around Brazil’s coast. The seven projects would amount to 14.5 GW of capacity which is believed to require Petrobras to fork out around $70 billion. This agreement comes as an extension to the partnership signed between Petrobras and Equinor in 2018, and had its scope expanded beyond the two wind farm opportunities – Aracatu I and II (located on the coastal border between the states of Rio de Janeiro and Espírito Santo) – initially planned. In addition to these two projects, the new agreement includes an assessment of the viability…