Portuguese energy group Galp Energia SGPS SA has announced that it has agreed to acquire a portfolio of solar and wind projects in Brazil with a total capacity of 4.8 GWp.
Galp agreed to purchase 3.6 GW/4.6 GWp of projects under construction under a framework agreement with Brazilian solar developer SER Energia. In a second agreement with Casa dos Ventos, the Portuguese company will build a 216-megawatt wind farm complex in the northeastern region of Brazil.
All items will be obtained in most cases. Financial details were not disclosed.
Georgios Papadimitriou, chief operating officer of renewables and new businesses at Galp, said the acquisition will help the oil and gas giant refocus its operations in Brazil.
Galp entered the Brazilian renewable energy market in 2021 with an agreement with SER Energia to acquire a 282 MW photovoltaic (PV) project in the state of Bahia and a 312 MW PV project in Rio Grande do Norte. The deal with Casa dos Ventos will help the company tap into the local wind power market.
According to the latest deal, Galp's renewable energy portfolio currently has 9.6 GW of projects in several development stages in Brazil and the Iberian Peninsula. The company already has 1.2 GW of installed solar PV capacity on the Iberian Peninsula.