Brazil Is Ready for a Renewable Energy Surge and Creation of New Wind Farms, Experts Say

Written by Valdemar Medeiros

Published on 12/09/2020 at 11:06

Painéis de energia solar e turbinas eólicas

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According to Rystad Energy, Brazil and Latin America in general is emerging as a hub for renewable energy, with some of the strongest growth in renewable energy capacity and wind farms expected globally in the coming years

With auctions already adopted across Latin America, Rystad Energy expects the region’s 49 GW of renewable energy capacity to soar to 123 GW by 2025, with the largest wind farms coming from Brazil, Mexico, Chile, Colombia, and Argentina.

The 5 Countries Ready for Renewable Energy Auctions

All five countries have been conducting renewable energy auctions for years, generating a massive pipeline of 50 GW for Brazil and a 40 GW pipeline for Mexico.

With prices falling to around US $20 per MWh, and even as low as US $18 per MWh in Brazil, auctions are expected to advance in most countries, despite pandemic-related delays. However, it should be noted that the future of the auction in Mexico remains uncertain after recent political turmoil, states Rystad Energy.

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Wind Farms

Low prices combined with the vast availability of land have led to increased competition and the creation of wind farms, giving rise to a wave of mega projects. Since 2018, solar photovoltaic (PV) and wind assets with capacities ranging from 50 MW to 300 MW have dominated the market.

Rystad Energy expects the popularity of megacapacity projects to continue, representing around 70% of the region’s wind and solar assets by 2025. “The proliferation of large-scale wind farms and the relatively consistent auctions with little or no local content requirement make Latin America a good market for large European developers,” said Minh Khoi Le, a renewable energy analyst at Rystad Energy.

Rank of the 10 Renewable Energy Companies and Wind Farms

Most of the top 10 companies with the highest renewable capacity and wind farms in Latin America are from Europe; mainly Enel, Iberdrola, EDF, and Engie, which are among the top five. These companies have dominated auctions in Latin America, especially in Brazil, Mexico, and Chile.

Currently, the Villanueva solar photovoltaic unit in Mexico, owned by Enel, is the largest solar farm in the region with an impressive capacity of 828 MW. Still, Villanueva will soon be surpassed by the 1.3 GW solar photovoltaic park in Minas Gerais, Brazil, owned by Aurora Energias.

Brazil is also home to several mega wind farms, such as Enel’s 716 MW Santa Angela Wind Farm (Lagoa dos Ventos) and the Campo Largo complex of Engie, which consists of Campo Largo 1 (326.7 MW), Campo Largo 2 (361.2 MW), and Umburanas (342.5 MW).

Brazil Is Ready for a Renewable Energy Surge and Creation of New Wind Farms, Experts Say

According to Rystad Energy, Brazil and Latin America in general is emerging as a hub for renewable energy, with some of the strongest growth in renewable energy capacity and wind farms expected globally in the coming years

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Brazil Is Ready for a Renewable Energy Surge and Creation of New Wind Farms, Experts Say

According to Rystad Energy, Brazil and Latin America in general is emerging as a hub for renewable energy, with some of the strongest growth in renewable energy capacity and wind farms expected globally in the coming years

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