Petrobras Charts New Course in Energy Future With Offshore Wind and Green Hydrogen Strategy

By September 19, 2023 2   min read  (386 words)

September 19, 2023 |

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Brazilian state oil company Petrobras has unveiled its closest plan to renewables yet, which puts green hydrogen at the centre of its move into the growing offshore wind space.

Recognizing the changing dynamics of the global energy system and Brazil’s place in it, Prates speaks eloquently of the massive challenge of turning Petrobras around at a time when the world is focusing more and more on renewable energy, particularly wind and solar. Rentier as it is, he emphasizes that BP needs to move with this shifting picture, and once again he sets out his very own cost-cutting regime. Crucially, Petrobras will seek to establish a strong presence onshore in both wind and solar, acquired via auctions, open market operations or a self-developed, pay-as-you-go model, which Brasprit calls H2V.

The intentions of Petrobras, however, go far beyond just onshore projects, as, thanks to the extensive expertise built over decades of operating offshore, the company aims to become a reference on the offshore renewable energy sector. “Our offshore wind projects will do more than just produce electricity; they will produce green hydrogen for export as well,” Prates said, drawing attention to the dual function of these offshore ventures.

Petrobras wants its electricity supply to become more secure, particularly in high-demand periods or critical situations, by making green hydrogen at sea. The company is working with China’s Dalian Shipbuilding Industry Group to create offshore green hydrogen plants. Because of these plants, Brazil’s energy supply will become more reliable in crises or high-demand periods. Green hydrogen can be used in a plethora of industries (e.g., manufacturing, transport sectors) and help limit climate change because the hydrogen is made with renewable energy.

The move made by Petrobras is well aligned with global efforts to pivot towards renewable energy sources and curtail carbon emissions as well. It puts the company at the forefront of sustainable energy innovation.

However, this ambitious plan does not come without its set of difficulties. Besides the technicalities of offshore power and hydrogen production, Petrobras must navigate regulation channels, acquire a stupendous amount of investments, and build new infrastructure. Additionally, ensuring environmental sustainability will be a crucial factor. Offshore activities can indeed harm marine ecosystems if not properly managed.



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