Brazil’s renewable energy landscape has changed significantly over the last decade. Although Brazil is mostly known for biofuels production and conventional hydroelectric power — hydroelectric power by itself accounts for over 70 percent of the country’s electricity generation — investment in the wind and solar sectors has been increasing rapidly since 2009.
With a solid track record of renewables development, Brazil is currently one of the fastest growing solar markets in the world, attracting the interest of a number of foreign investors, multilateral development banks, energy companies, and equipment manufacturers. In addition, Brazil’s market size positions the country, not only as a leader in the Latin America region, but also as a potential supply hub for neighboring countries.
Excerpted from Renewable Energy World. To read the full article, click here.