Petrobras is preparing to acquire 2GW of onshore wind and solar power assets in Brazil, as analysts ponder whether the oil giant’s latest pivot toward renewable energy will turn out better than past attempts to go green.
State-controlled Petrobras has already set aside $5.2bn for wind and solar PV power out of a $102bn five-year spending plan announced last November.
In an interview with Reuters this week, Petrobras CEO Jean Paul Prates said the company will start its spending spree this year, and do so without waiting for the Brazilian Congress to approve a long-delayed regulatory bill for offshore wind.
