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CDV and TotalEnergies Create a Joint Venture

CDV (Casa dos Ventos) and TotalEnergies will form a joint venture to develop a renewable energy portfolio.

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CDV (Casa dos Ventos) and TotalEnergies will form a joint venture to develop a renewable energy portfolio. This portfolio contains 700MW of onshore wind capacity in operation and 1GW of onshore wind capacity under construction. It also includes 2.8GW of onshore wind power and 1.6GW of solar projects under development.

A joint venture in Brazil

CDV, in partnership with TotalEnergies, will be able to acquire existing and new projects. This will help the company to grow. It will have access to an additional portfolio of at least 6GW of capacity developed by CDV.

TotalEnergies will invest $550 million and pay an additional $30 million to complete the acquisition. The group will leverage its presence in the corporate APP market, its buying power and its expertise. On its side, CDV will help the joint venture with its knowledge of the Brazilian market and its portfolio.

TotalEnergies’ strategy

Patrick Pouyanné, Chairman and CEO of TotalEnergies, said:

“After Adani Green in India and Clearway in the United States, I am delighted with this new major partnership in Brazil, with Casa dos Ventos, a leader in onshore wind energy. With this transaction, TotalEnergies acquires no less than a leading position in the Brazilian renewable energy market, one of the most dynamic commercial markets in the world. This market is in line with our strategy to capitalize on the growth of deregulated electricity markets, which is crucial to the energy transition.

The joint venture with CDV is an integral part of TotalEnergies’ strategy. Indeed, the company’s ambition is net zero by 2050.

The French group is building a portfolio of activities in the field of electricity and renewable energy. The goal is to reach 100GW of renewable generation and storage capacity by 2030. Finally, the company currently has a total of 12GW in operation or under construction in wind and solar power.

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