TotalEnergies invests in Brazilian renewables

TotalEnergies invests in Brazilian renewables

Corporate & Sovereign Strategy Equity M&A France Brazil Capital Markets Energy Wind Solar Gas ESG Renewable

French energy company TotalEnergies said Wednesday that it will invest up to BRL580 million ($108 million) to set up a renewable energy joint venture with Brazilian wind power developer Casa dos Ventos. TotalEnergies will pay BRL550 million in cash for 34% of the joint venture and up to BRL30 million in an earn-out payment to complete the deal. It will also have the option to buy an additional 15% of the joint venture after five years, it said in a press release. The French company's size and "s

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