Iberdrola, Rio de Janeiro Sign Offshore Wind MoU

Business & Finance

March 27, 2024, by Adnan Memija

Iberdrola’s renewable energy development arm in Brazil, Neoenergia, has signed a Memorandum of Understanding (MoU) with the government of Rio de Janeiro state to explore the development of offshore wind projects.

Under the agreement, Neoenergia and the government of Rio de Janeiro will carry out studies regarding offshore wind generation in the state’s coastal region.

The signing ceremony took place during the Brazil Offshore Wind Summit 2024 on 26 March.

This is already the fourth MoU that Neonergia signed for the development of offshore wind in Brazil. The company is also conducting studies to promote and evaluate the viability of offshore wind power in other states such as Rio Grande do Sul and Ceará.

In September 2023, Neoenergia inked another agreement with the Rio Grande do Norte Government to explore the development of offshore wind projects in the country.

That same month, the government of Rio de Janeiro signed a MoU with Ocean Winds, a 50:50 joint venture between EDP Renewables and Engie, to collaborate on developing projects within the state.

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In July 2023, Brazil’s Ministry of Mining and Energy and Energy Research Office (EPE) published a new version of the country’s offshore wind map following updates to the regulatory framework for energy generation.

First published in 2020, the roadmap identifies 700 GW of offshore wind potential off Brazilian states’ coasts, while World Bank’s estimates from 2019 put the country’s technical potential at 1,228 GW: 748 GW for floating wind and 480 GW for fixed-bottom.