Renewable Energy – With Major Expansion of Wind Power, Sector Could Reach 5GW in 2021

In 2020, Wind Energy Should Remain at 2 to 3 GW. But in 2021, It Is Expected That Renewable Energy Auctions Will Resume and Reach 5GW

The expansion of the renewable energy market, more precisely in the wind sector this year, should only be attributed to the ACL. This year’s energy auction is only for existing A-1 energy. Therefore, the wind source should have a contracted installed capacity of 2 to 3 GW by the end of the year, maintaining the reported volume from the department over the last two years. For 2021, the expectation is for acceleration due to the resumption of new energy auctions and the normal contracting of the ACL, which may reach 5 GW.

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According to Élbia Gannoum, CEO of the Brazilian Wind Energy Association ABEEólica, “There will likely be no auction. The distribution companies’ statement was not encouraging for this year.”

She also noted that in 2021, “if we have confirmation of an economic growth of around 2.5%, we could have an auction, and we expect something between 1 and 2 GW of contracting in addition to the 2 to 3 GW from the ACL.”

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The executive added that the expansion of resources in the free market has been resolved and that the comments from economist Joaquim Levy at the first panel of the event made her optimistic about the future.

The Director of Economic Strategy at Banco Safra commented that people are interested in the renewable energy financial market, and it is considered a safer asset than fossil energy, as market rates are lower than those from BNDES depending on the term.

Élbia predicts that, first of all, there will be competition between onshore and offshore wind energy generation methods, and the current level of demand in the country is low. However, in the medium and long term, this outlook and the way to unleash this energy should balance the issue of the two ways of generating energy through wind.