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‘Strong fundamentals’ see Ocean Winds plan huge Brazilian offshore wind portfolio

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Brazil has become a leading target market for offshore wind developers, with 97 GW at various stages of development

Ocean Winds, the offshore wind joint-venture between EDPR and ENGIE, is seeking licences to develop five offshore wind projects in Brazil with a total capacity of 15 GW

The company said the projects are in the states of Piauí, Rio Grande do Norte, Rio de Janeiro, and Rio Grande do Sul.

Ocean Winds is seeking authorizations for ‘licença prévia’ (environmental permits) for the Vento Tupi project (1 GW), Maral (2 GW), Ventos do Atlântico (5 GW), Tramandaí offshore (700 MW) and Ventos do Sul (6.5 GW).

Ocean Winds is the latest in a growing number of developers targeting the Brazilian offshore wind market, which has grown significantly in importance in the last 12 months.

Research from Renewables Consulting Group (RCG) found Brazil has leapt into first place in the global offshore wind rankings, with more than 97 GW of generating capacity in development.

In March 2022, Shell confirmed it had initiated a development process for up to 17 GW of Brazilian offshore wind.

Earlier this month, Corio Generation announced plans to develop a quintet of projects in Brazil totalling more than 5 GW.

In May 2022, Brazilian state energy company Petrobras confirmed it is working with Equinor on the feasibility of an offshore windfarm in the Campos Basin.

Ocean Winds chief executive Bautista Rodríguez said the company only enters markets with strong fundamentals.

“Since 2020, Brazil has shown high potential for offshore wind projects,” Mr Rodríguez explained. “This is reinforced by the latest steps taken for the development of a regulatory framework for offshore wind in the country.

“The development of this new sector in Brazil is an important opportunity to meet growing demand for energy, develop green hydrogen projects, diversify the energy mix and ensure the country’s energy security with renewable energy that is cost-competitive compared to fossil fuels.”

The company said it has opened a fully Brazilian-owned company, OW Brasil.

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