Energy Briefing: The Brazilian Power Market
THE BRAZILIAN POWER MARKET: An Interesting Investment Regime for Onshore Wind and Solar Power?
In 2014, Brazil ranked tenth amongst the countries with the most total installed capacity of wind power. Since the first successful onshore wind-exclusive power auction in 2009, much has happened in the Brazilian renewables market. The rapid development, in particular as for solar and onshore wind power, is largely due to factors such as abundant wind and solar resources, the regulator's long-term planning and an auction-based scheme awarding long-term power purchase agreements to the winning bidders. In the following we provide you with a brief overview of the legal framework in place for tender proceedings related to renewable sources in Brazil.