REG-TotalEnergies SE Brazil: TotalEnergies Partners With Casa dos Ventos to Jointly Develop a 12 GW Renewable Energy Portfolio

TotalEnergies SEAnnouncement

26/10/2022 07:30

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Brazil: TotalEnergies Partners With Casa dos Ventos to Jointly Develop a 12 GW
Renewable Energy Portfolio

 

TotalEnergies (TTE) (Paris:TTE) (LSE:TTE) (NYSE:TTE) and Casa dos Ventos
(CDV), Brazil's leading renewable energy developer, announced today the
creation of a 34%(TTE)/66%(CDV) joint venture to jointly develop, build and
operate the renewable portfolio of Casa Dos Ventos.

This portfolio includes 700 MW of onshore wind capacity in operation, 1 GW of
onshore wind under construction, 2.8 GW of onshore wind and 1.6 GW of solar
projects under well advanced development (COD within 5 years).

Besides, the newly formed JV will have the right to acquire the current and
new projects that are or will be developed by CDV as they reach execution
stage. The JV will thus be able to jointly foster its growth by accessing an
additional portfolio of at least 6 GW, that CDV will continue to expand.

TotalEnergies will pay a cash consideration of $550 million (R$ 2,920 million)
and up to $30 million (R$ 159 million) in earn-out to complete the
acquisition. In addition, TotalEnergies will have the option to acquire an
additional 15% equity share in the JV after 5 years.

TotalEnergies will support the JV accelerating its growth thanks to its global
presence in the Corporate PPA market, its purchasing power resulting from its
worldwide size, its trading expertise well suited to the Brazilian merchant
market and its strong balance sheet allowing the JV to improve its financing
cost. CDV, which has developed 25% of the onshore wind assets in operation
today in Brazil, will bring to the JV its deep knowledge of the Brazilian
market and a very high-quality portfolio while shifting from a developer to a
producer business model.

"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, the leader in
onshore wind energy. With this transaction, TotalEnergies acquires not less
than a leading position in the Brazilian renewable energy market, one of the
most dynamic merchant markets in the world. This market fits our strategy of
taking advantage of the growth of the deregulated power markets, which is
crucial to the energy transition. ", said Patrick Pouyanné, Chairman and CEO
of TotalEnergies. "With a total of 12 GW in operation, construction and
development, both wind and solar, this transaction is an additional step in
TotalEnergies ambition to reach 100 GW of renewable production by 2030 and in
its transformation into a sustainable and profitable multi-energy company.”

“The partnership between Casa dos Ventos and TotalEnergies was structured to
maximize the complementarities and synergies between the companies. In
addition to its financial strength, TotalEnergies’ global footprint will
contribute to the expansion of our client portfolio and enhance our knowledge
in new fields of the energy transition. We are confident that this partnership
positions us in a strategic role to lead the sustainable energy agenda in
Brazil,” said Mario Araripe, founder and president of Casa dos Ventos.

***

TotalEnergies and renewable electricity

As part of its ambition to get to net zero by 2050, TotalEnergies is building
a portfolio of activities in electricity and renewables. At the end of June
2022, TotalEnergies' gross renewable electricity generation installed capacity
is close to 12 GW. TotalEnergies will continue to expand this business to
reach 35 GW of gross production capacity from renewable sources and storage by
2025, and then 100 GW by 2030 with the objective of being among the world's
top 5 producers of electricity from wind and solar energy.

About Casa dos Ventos

Casa dos Ventos is a Brazilian energy company that develops, builds and
operates projects from renewable sources. Responsible for one of the largest
wind measurement campaigns in the world, the company has developed one in
every four wind projects in operation in Brazil. To continue its relevant role
in the sector, Casa dos Ventos holds the largest portfolio of wind and solar
projects under development in the country, with approximately 20 GW. The
company is also a leading provider of energy solutions to support consumers in
their energy transition.

Casa dos Ventos is a signatory to the UN Global Compact and works in line with
the 17 Sustainable Development Goals (SDGs) and best ESG practices, preserving
local biomes, developing social projects in the communities where it is
present and contributing to a low carbon economy.

About TotalEnergies

TotalEnergies is a global multi-energy company that produces and markets
energies: oil and biofuels, natural gas and green gases, renewables and
electricity. Our more than 100,000 employees are committed to energy that is
ever more affordable, cleaner, more reliable and accessible to as many people
as possible. Active in more than 130 countries, TotalEnergies puts sustainable
development in all its dimensions at the heart of its projects and operations
to contribute to the well-being of people.

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Cautionary Note

This press release, from which no legal consequences may be drawn, is for
information purposes only. The entities in which TotalEnergies SE directly or
indirectly owns investments are separate legal entities. TotalEnergies SE has
no liability for their acts or omissions. The terms “Company” or
“TotalEnergies company” refer collectively to the company TotalEnergies SE
and the companies it controls directly or indirectly. Such terms are used
solely for the sake of convenience for purposes of the present communication.
Likewise, the words “we”, “us” and “our” may also be used to refer
to subsidiaries in general or to those who work for them. This document may
contain forward-looking information and statements that are based on a number
of economic data and assumptions made in a given economic, competitive and
regulatory environment. They may prove to be inaccurate in the future and are
subject to a number of risk factors. Neither TotalEnergies SE nor any of its
subsidiaries assumes any obligation to update publicly any forward-looking
information or statement, objectives or trends contained in this document
whether as a result of new information, future events or otherwise.

TotalEnergies Contacts 

Media Relations: +33 1 47 44 46 99 l presse@totalenergies.com
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Investor Relations: +33 (0)1 47 44 46 46 l ir@totalenergies.com
(mailto:ir@totalenergies.com)



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