October 27, 2022 |
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
French energy company plans to spend up to $108 mln to create a joint venture with local wind power developer Casa dos Ventos