The world’s oil and gas majors, along with some of the largest utility companies, continue to invest in renewable energy as they develop diversified power generation project portfolios. Among the latest is France’s TotalEnergies, which in late October announced an investment of about $580 million into a joint venture (JV) with Casa dos Ventos, a major wind and solar player in Brazil. Paris-based TotalEnergies said it will take a 34% stake in the new venture that includes support to develop and operate renewable energy projects already underway by Casa dos Ventos. The Brazilian company, holding the other 66% of the joint venture, had sought a large international partner to further its renewable energy installations. The groups said the deal has the potential for development of more than 10 GW of renewable energy power generation capacity.
