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Eneva Invests in Solar Energy and Boosts Renewable Sector in Brazil

Written by Bruno Teles
Published on 28/06/2023 at 22:23
Eneva investe em energia solar
Foto: Eneva investe em energia solar
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According to the World Energy Investment 2023 report released by the International Energy Agency (IEA), global investments in clean energy technologies have surpassed investments in fossil fuels such as oil, gas, and coal for the eighth consecutive year.

Eneva has driven the renewable sector in Brazil. It is estimated that in 2023, investment in clean energy will reach US$1.7 trillion, exceeding just over US$1 trillion allocated to fossil fuels.

This trend shows that if the pace of investments is maintained, we could meet the targets set in the Paris Agreement and prevent the average global temperature from rising above 1.5 ºC. The data is encouraging, especially because the average global temperature is already 1.15 ºC above pre-industrial levels, according to the World Meteorological Organization. 

The report from the United Nations Intergovernmental Panel on Climate Change (IPCC) also emphasizes that it is possible to reduce greenhouse gas emissions and mitigate the adverse impacts of climate change through technologies already available in the market. A relevant fact highlighted by the IEA is that investments in solar energy are expected to significantly surpass resources allocated to oil for the first time. It is estimated that solar energy investments will reach US$382 billion in 2023, three times the amount allocated to oil. However, this does not mean that fossil sources will be completely replaced in the short term.

Eneva: The Challenge of Prioritizing Renewable Sources and Reducing Dependence on Fossil Fuels

In Brazil, the transition to renewable energy sources is underway. According to the Energy Research Company (EPE), by 2050, 40% of the energy consumption will still come from oil, while natural gas will have an 8% share, driven by industry and transport. However, renewable sources are growing in their share of the electricity matrix, mainly solar photovoltaic generation, which consumed an installed capacity of 30 GW in May, and wind energy, which is expected to reach 29 GW by the end of 2023.

Experts highlight Brazil’s unique potential in the energy transition, but emphasize the need to prioritize renewable sources over fossil ones. The country needs to fully explore wind and solar energy generation, becoming a global powerhouse in clean energy production at low cost. It is important to invest in decarbonization technologies and redirect the tax incentives currently allocated to fossil fuels.

In this sense, providing solar energy for industrial and agricultural sectors is a promising strategy. Companies like Light Source BP are investing in large-scale solar energy projects in various regions of Brazil. The country also has the potential to become a global supplier of low-carbon products, such as steel, cement, and green hydrogen.

Eneva, one of Brazil’s largest private onshore natural gas operators, is also directing its investments towards renewable energy projects. The company inaugurated the Futura 1 solar complex in Juazeiro (BA), with an installed capacity of 837 MW, enough to meet the needs of 1.7 million consumers. This enterprise contributed to an 8% increase in the total capacity of centralized solar generation in the Brazilian electricity matrix.

The path to a low-carbon emissions economy involves the coexistence of fossil energy use and the advancement of renewable energies. However, it is crucial to invest in decarbonization technologies and to adopt clear industrial and fiscal policies alongside the energy transition. Brazil has the opportunity to lead this transformation and stand out as a global supplier of clean energy and responsible products.

Bruno Teles

Falo sobre tecnologia, inovação, petróleo e gás. Atualizo diariamente sobre oportunidades no mercado brasileiro. Com mais de 7.000 artigos publicados nos sites CPG, Naval Porto Estaleiro, Mineração Brasil e Obras Construção Civil. Sugestão de pauta? Manda no brunotelesredator@gmail.com

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