Galp Energia invests in Brazils solar and wind energy

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Portuguese company Galp Energia sees Brazil as an attractive country for its solar and wind energy opportunities, said the  CEO Andy Brown with  the company looking to invest there.

Galp have agreed to acquire and develop two solar projects in Brazil with a combined capacity of around 600 megawatts (MW),  “These 600 MW is just a start, we’re looking at opportunities in different locations around the country,” the chief executive said at a press conference. “We want to expand our position in renewables and Brazil is a country rich in opportunities, it has an attractive framework for us to invest,” Brown said.

In June, Galp announced it would sharpen its focus on renewable energy and limit fossil fuel spending.

The company will invest in already sanctioned developments, such as the Bacalhau I project in Brazil’s offshore basin.