Petrobras, Total and Total Eren sign Memorandum of Understanding

Petrobras, Total and Total Eren have signed a Memorandum of Understanding to develop Brazil’s renewable energy sector.

The state-controlled Brazilian firm will work with the French companies to analyse the joint business opportunities in the nation’s solar energy and onshore wind energy segments.

The companies signed a strategic partnership in February 2017 and are not assessing other potential areas of co-operation, such as developing high-value clean energy businesses in partnership with major international firms.

They say the main benefits in developing a partnership of this kind are reducing exposure to risk in the renewable energy business and exploiting potential economies of scale.

The companies add although the agreement is non-binding, it indicates their willingness to work together to develop projects in these segments.