December 24, 2018 |
Petrobras said it has agreed to form a joint venture with France's Total Eren to develop wind and solar power projects in Brazil.
The new company plans to build up to 500 MW in projects over the next five years, Petrobras said in a statement. Petrobras will own 49% of the joint venture, while Total Eren will have 51%.
Brazil's state-owned energy company also said it has agreed to sell its remaining 10% stake in Block BM-S-9 in the Lapa field to Total for $50m. Petrobras sold 35% of the block to
Brazil's state-owned energy company will own 49% of the new company