Ocean Winds (OW) and Eletrobras recently signed a memorandum of understanding (MoU) in São Paulo, Brazil, aiming to explore opportunities in offshore wind energy. The collaboration is a strategic move to advance offshore wind projects in line with Brazil’s renewable energy targets and economic development goals. Rafael Munilla, the chief business development officer of OW, expressed enthusiasm about developing a long-term partnership with Eletrobras, emphasizing the need to harness Brazil’s wind resources for a sustainable energy future. The goals of this collaboration also include fostering local job creation and community development, all critical considerations for the renewable energy landscape in Brazil.
OW, a 50/50 joint venture comprised of EDP Renewables (EDPR) and ENGIE, has identified Brazil as a crucial market owing to its significant potential in meeting the growing long-term demand for renewable energy. The country’s commitment to an energy transition is complemented by its efforts to generate opportunities for local supply chains and communities. This joint endeavor underscores Brazil’s broader energy goals, thereby supporting sustainable development and economic growth. With OW’s expertise in offshore wind projects and infrastructure, the partnership holds promise for cultivating an innovative renewable energy sector in Brazil.
Eletrobras, Brazil’s largest power utility, is focused on optimizing capital allocation via the development of clean energy projects, which will help facilitate the energy transition both domestically and globally. Leonardo Soares Walter, Eletrobras’ director of mergers and acquisitions and business development, stated that the company currently generates 97% of its energy from clean and renewable sources. Aiming for complete sustainability, Eletrobras plans to reach 100% renewable energy production by divesting its thermal power plants currently in progress. Additionally, the company’s vision includes achieving net zero emissions by 2030, underlining its commitment to a sustainable future.
The agreement with Ocean Winds is seen as a critical step towards establishing a cooperative framework that can ensure the increasing cleanliness and renewal of energy sources in Brazil. This collaboration is poised to contribute significantly to the decarbonization efforts of the economy while ensuring energy security. The intent is clear: to create a cleaner energy landscape that aligns with global sustainability targets. With both organizations focused on renewable energy, this partnership is a timely and strategic fit for Brazil’s transition towards a greener energy grid.
OW is at the forefront of offshore wind energy, integrating offshore wind assets and project pipelines from both EDPR and ENGIE. Currently, the company has 1.5 GW of offshore wind projects under construction and an impressive 4 GW in development. Looking ahead, OW intends to scale its projects to between 5 and 7 GW of operational or construction-ready projects by 2025, while also advancing another 5 to 10 GW in development. This ambitious target not only signals OW’s commitment to expanding its footprint in offshore wind energy but also addresses the wider demand for sustainable energy solutions globally.
The primary target markets for OW extend to Europe, the United States, and selected Asian countries, indicating a carefully considered strategy aimed at capitalizing on anticipated growth in these regions. By forging partnerships and alliances, such as the one with Eletrobras, OW aims to reinforce its position in the offshore energy sector while also contributing to Brazil’s renewable energy ambitions. The collaborative agreement represents a significant opportunity for both entities to enhance their business prospects while supporting Brazil’s economic and environmental goals. As the world continues to transition towards renewable energy, such partnerships are essential for cultivating sustainable and economically viable energy solutions on a global scale.