Brazil to Invest US$ 2.5 Billion in Wind Farms This Year

zzz After counting for generation on hydroelectricity for about 80% of it energy need Brazil is considering now a record investment of 4.1 billion Real (2.5 billion USD) for wind farms this year to diversify its power supply.

Brazil currently has 1 Gigawatts of wind capacity in operation.
 
That would be more than the total 3.3 billion reais Brazil’s development bank Banco Nacional de Desenvolvimento Econômico e Social has approved for wind since financing its first project in 2005, Antonio Tovar, head of the bank’s renewable energy desk.

Brazil has organized three auctions in the last two years for developers of renewable energy projects to sign power- purchase agreements.

“The big benefit with wind is that you’re producing most energy during the dry season between May and November,” when hydro reserves may run low, Jorge Trinkenreich, director of the Rio de Janeiro-based consulting company PSR Consultoria.

Developers of wind energy projects received 69% of the contracts that were offered in two auctions last year, according to the national energy research agency Empresa de Pesquisa Energética, known as EPE.

The high rate led Rio de Janeiro-based BNDES to approve 1.2 billion Real for wind projects in 2010, more than any other energy source excluding large hydro power.

Wind power may not receive as large a share of the contracts that will be available in two power auctions scheduled for July following Brazil’s decision to include natural gas-fired thermoelectric plants, Trinkenreich said. Those plants have advantages over wind, he said, notably that they “can be turned on and off when you want.”

Natural gas comprised 39% of the projects registered to participate in July’s auctions, in terms of generation capacity, and wind accounted for 40%, according to EPE.

Developers signed contracts to sell 3.9 Gigawatts of wind power, or 3% of the country’s total grid capacity, in Brazil’s three last renewable energy auctions, according to electricity regulator Agência Nacional de Energia Elétrica, Aneel.

Mercopress

Tags:

Ads

You May Also Like

Brazil’s Fair Trade Coffee Sold at Sam’s Club Across US

A new Fair Trade Certified coffee from Brazil will be sold to Sam's Club ...

Time for a Gentler Economic Policy in Brazil

Brazilian Economist Walter Brasil Mundell believes that the Brazilian economy will grow more in ...

Tears and Laments Won’t Help Relations, Brazil Tells Argentina

The recent Argentinean Industrial Union’s (UIA) call for changes in the Mercosur’s trade rules ...

Brazil’s Petrobras Finds New Oil Reserves

Petrobras (Brazil Petroleum S.A.) informed the National Petroleum Agency (ANP) that it discovered oil ...

Brazil, World’s Top Bovine Herd and Top Gelatin Storehouse

Brazil has the greatest commercial bovine herd in the world, there are about 195 ...

Brazil and Turkey As Seen Through IMF Eyes

The First Deputy Managing Director of the IMF, Anne O. Krueger, talks about how ...

Now, Brazil’s Finance Minister Also Accused of Taking Bribes

Attorney Rogério Buratti said today in a deposition in the city of Ribeirão Preto, ...

Brazil’s Lula Decides to Compete with Mobsters Offering Help to Favelas

Brazilian President Luiz Inácio Lula da Silva announced this Monday, July 1st, in Rio ...

Pomp, Circumstance and Lots of Deals for Brazil’s Lula in London

Brazilian President Luiz Inácio Lula da Silva received a lavish welcome from Queen Elizabeth ...

Interest Hike Depresses Brazilian Stocks

Latin American shares were mostly mixed on the session, as traders were hesitant to ...