TOTALENERGIES SE: Brazil: TotalEnergies Partners With Casa dos Ventos to Jointly Develop a 12 GW Renewable Energy Portfolio
October 26 2022 - 2:25AM
UK Regulatory
TIDMTTE
TotalEnergies (TTE) (Paris:TTE) (LSE:TTE) (NYSE:TTE) and Casa
dos Ventos (CDV), Brazil's leading renewable energy developer,
announced today the creation of a 34%(TTE)/66%(CDV) joint venture
to jointly develop, build and operate the renewable portfolio of
Casa Dos Ventos.
This portfolio includes 700 MW of onshore wind capacity in
operation, 1 GW of onshore wind under construction, 2.8 GW of
onshore wind and 1.6 GW of solar projects under well advanced
development (COD within 5 years).
Besides, the newly formed JV 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 JV will thus be able to jointly
foster its growth by accessing an additional portfolio of at least
6 GW, that CDV will continue to expand.
TotalEnergies will pay a cash consideration of $550 million (R$
2,920 million) and up to $30 million (R$ 159 million) in earn-out
to complete the acquisition. In addition, TotalEnergies will have
the option to acquire an additional 15% equity share in the JV
after 5 years.
TotalEnergies will support the JV accelerating its growth thanks
to its global presence in the Corporate PPA market, its purchasing
power resulting from its worldwide size, its trading expertise well
suited to the Brazilian merchant market and its strong balance
sheet allowing the JV to improve its financing cost. CDV, which has
developed 25% of the onshore wind assets in operation today in
Brazil, will bring to the JV its deep knowledge of the Brazilian
market and a very high-quality portfolio while shifting from a
developer to a producer business model.
"After Adani Green in India and Clearway in the United States, I
am delighted with this new major partnership in Brazil, with Casa
dos Ventos, the leader in onshore wind energy. With this
transaction, TotalEnergies acquires not less than a leading
position in the Brazilian renewable energy market, one of the most
dynamic merchant markets in the world. This market fits our
strategy of taking advantage of the growth of the deregulated power
markets, which is crucial to the energy transition. ", said Patrick
Pouyanné, Chairman and CEO of TotalEnergies. "With a total of 12 GW
in operation, construction and development, both wind and solar,
this transaction is an additional step in TotalEnergies ambition to
reach 100 GW of renewable production by 2030 and in its
transformation into a sustainable and profitable multi-energy
company."
"The partnership between Casa dos Ventos and TotalEnergies was
structured to maximize the complementarities and synergies between
the companies. In addition to its financial strength,
TotalEnergies' global footprint will contribute to the expansion of
our client portfolio and enhance our knowledge in new fields of the
energy transition. We are confident that this partnership positions
us in a strategic role to lead the sustainable energy agenda in
Brazil," said Mario Araripe, founder and president of Casa dos
Ventos.
***
TotalEnergies and renewable electricity
As part of its ambition to get to net zero by 2050,
TotalEnergies is building a portfolio of activities in electricity
and renewables. At the end of June 2022, TotalEnergies' gross
renewable electricity generation installed capacity is close to 12
GW. TotalEnergies will continue to expand this business to reach 35
GW of gross production capacity from renewable sources and storage
by 2025, and then 100 GW by 2030 with the objective of being among
the world's top 5 producers of electricity from wind and solar
energy.
About Casa dos Ventos
Casa dos Ventos is a Brazilian energy company that develops,
builds and operates projects from renewable sources. Responsible
for one of the largest wind measurement campaigns in the world, the
company has developed one in every four wind projects in operation
in Brazil. To continue its relevant role in the sector, Casa dos
Ventos holds the largest portfolio of wind and solar projects under
development in the country, with approximately 20 GW. The company
is also a leading provider of energy solutions to support consumers
in their energy transition.
Casa dos Ventos is a signatory to the UN Global Compact and
works in line with the 17 Sustainable Development Goals (SDGs) and
best ESG practices, preserving local biomes, developing social
projects in the communities where it is present and contributing to
a low carbon economy.
About TotalEnergies
TotalEnergies is a global multi-energy company that produces and
markets energies: oil and biofuels, natural gas and green gases,
renewables and electricity. Our more than 100,000 employees are
committed to energy that is ever more affordable, cleaner, more
reliable and accessible to as many people as possible. Active in
more than 130 countries, TotalEnergies puts sustainable development
in all its dimensions at the heart of its projects and operations
to contribute to the well-being of people.
Twitter: @TotalEnergies LinkedIn: TotalEnergies Facebook:
TotalEnergies Instagram: TotalEnergies
Cautionary Note
This press release, from which no legal consequences may be
drawn, is for information purposes only. The entities in which
TotalEnergies SE directly or indirectly owns investments are
separate legal entities. TotalEnergies SE has no liability for
their acts or omissions. The terms "Company" or "TotalEnergies
company" refer collectively to the company TotalEnergies SE and the
companies it controls directly or indirectly. Such terms are used
solely for the sake of convenience for purposes of the present
communication. Likewise, the words "we", "us" and "our" may also be
used to refer to subsidiaries in general or to those who work for
them. This document may contain forward-looking information and
statements that are based on a number of economic data and
assumptions made in a given economic, competitive and regulatory
environment. They may prove to be inaccurate in the future and are
subject to a number of risk factors. Neither TotalEnergies SE nor
any of its subsidiaries assumes any obligation to update publicly
any forward-looking information or statement, objectives or trends
contained in this document whether as a result of new information,
future events or otherwise.
TotalEnergies Contacts
Media Relations: +33 1 47 44 46 99 l presse@totalenergies.com l
@TotalEnergiesPR
Investor Relations: +33 (0)1 47 44 46 46 l
ir@totalenergies.com
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SOURCE: TotalEnergies SE
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