Galp, a multinational energy corporation headquartered in Portugal, has agreed to purchase 4.8 GW of solar and wind energy projects in Brazil from SER Energia and Casa dos Ventos. The agreement with SER Energia, a Brazilian solar designer, encompasses the purchase of 4.6 GWp of projects currently under construction in Brazil. Galp will acquire a group of 216 MW wind farms being developed in Brazil’s north-east region with Casa dos Ventos. No financial details have been disclosed.
In addition, the agreements increase Galp’s total renewable capacity under development worldwide to 9.6 GW. By 2025, the company intends to boost its renewable energy production capacity to 4 GW, with a further increase to 12 GW by 2030. The company also has renewable energy projects in Spain and Portugal.
In October 2021, Galp agreed to acquire and develop 594 MWp of solar projects from SER Energia in Brazil. This included two solar projects under construction in the Brazilian states of Bahia and Rio Grande do Norte, with capacities of 282 MWp and 312 MWp, respectively. Further, the projects are expected to attain commercial operation before 2025.
REGlobal’s Views: Major large oil and gas players across the world are expanding their renewable energy portfolios. Galp is also moving quickly towards achieving its renewable energy goals and this massive acquisition is a big step in that direction.