Despite current uncertainties affecting the Brazilian wind power sector, the industry’s long-term outlook is solid and the country will remain a leading force in the global renewable energy market a decade from now, according to Morten Dyrholm, chair of the Global Wind Energy Council (GWEC).
“You are going through a period of turmoil, but Brazil will emerge and continue to be a beacon of how to integrate renewables and how to reach a green future,” he told a Thought Leaders roundtable luncheon at today’s Brazil Wind Power conference in Rio de Janeiro organized by Recharge and GWEC.
Dyrholm recognized that Brazil in the last several years has faced many challenges with wind energy development including political instability and economic turmoil.
Financing terms offered by the National Development Bank (BNDES) deteriorated, several tenders for new capacity were cancelled, and the federal government’s commitment to local content rules were also called into question. Those rules have led six turbine OEMs to invest hundreds of millions of US dollars in Brazil, enabling it to create a large supply chain.