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In 2016, Petrobras and Total formed a strategic alliance to jointly explore new opportunities in Brazil and other countries / AFP / Archives
Petrobras, Total and Total Eren have signed a Memorandum of Understanding to consider joint ventures in solar and wind energy in Brazil Petrobras announced in a statement Tuesday.
The goal is to exploit Brazil's strong renewable energy potential, particularly in the north-east of the country, said Nelson Silva, director Organization and Management Systems of Petrobras
M. Silva denied that Brazil's state-owned giant lost ground in renewable energy, saying the company focused heavily on oil and gas exploration in 2017 due to financial constraints.
"We were in a particular financial situation and we focused on the financial recovery of the company," he said.
Shaken by a vast corruption scandal, Petrobras has completed the last four years in the red , although the net loss was significantly reduced last year: 446 million reais in 2017 (139.7 million dollars at the exchange rate of the time), against 14.824 billion reais the previous year (4.255 billion) last year's average exchange rate.)
Nelson Silva stated that Petrobras and Total's investment volume had not yet been defined, nor the participation of each company.
" He We must first badyze the opportunities and then determine if we have the means to present viable projects, "he said.
Petrobras already operates four wind farms with 104 megawatts installed, as well as a plant 1.1 megawatt solar energy research and development in the state of Rio Grande do Norte
Total Eren, 23% owned by Total since September, specializes in the development of wind energy projects , solar and hydroelectric.
In 2016, Petrobras and Total formed a strategic alliance to jointly explore new opportunities in Brazil and other countries.
In Brazil, Total was heavily criticized for drilling projects near the US. mouth of the Amazon River, which, according to the NGO Greenpeace, would endanger coral reefs
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