Norwegian Companies’ Investments in Brazil in Solar Energy, Hydroelectric Power, Oil and Gas Have Already Created 612,000 Jobs

The Opening of the Brazilian Market Favored Investments from Major Norwegian Players in the Country. So Far, There Are More Than 27,000 Direct Jobs and 585,000 Indirect Jobs Created in Recent Years

Little is said about Norwegian companies in Brazil that are gradually gaining market share and significantly amplifying their investments. The sectors where Norwegians are injecting their “Norwegian Crowns” (official currency) the most are renewable solar energy, hydropower, oil and gas, generating more than 612 job vacancies among direct and indirect roles, according to the Norwegian business site Inosvajon Norge and endorsed by Team Norway Brazil.

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In the table below, it is possible to see that Brazil represents an important source of resources for Norway, with about 7.3% of its GDP (Gross Domestic Product) coming from the sectors listed above. Next, we will list the companies that centralize their investments here the most.

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Investment Table Regarding Norway’s Recent Years in Brazil (Click to Enlarge)

4 Norwegian Companies in Brazil and Their Investments by Segment

The agreement signed by Equinor to Acquire a Stake in the Roncador Field was the largest transaction during the period. However, a positive investment trend can be observed across all sectors, not limited to Oil and Gas.

Although investments in the renewable solar energy sector have returned to 2014 levels, Norway now has greater and more diverse exposure in the energy sector. Four companies are investing in four different types of renewable energy sources in Brazil. Scatec Solar and Equinor are in the sector with solar generation facilities, while Statkraft has Expanded Its Operations with new hydropower acquisitions. Umoe BioEnergy remains focused on alternative sources such as biofuel, produced from sugarcane, with negative CO2 emissions.

Agribusiness, chemicals, finance, IT, media, mining, etc., are included in the “Others” segment and represent sectors in which Norwegian companies are active in Brazil. The share of investments in these areas has slightly decreased compared to 2016, from 34% to 30%.