Brazil to lure USD 300bn in power investments by 2040 - report
Brazil is projected to attract some USD 300 billion (EUR 269.1bn) in investments for power generation by 2040, of which 70% will go to solar and wind projects, Bloomberg New Energy Finance (BNEF) says.
In total, Brazil is expected to add 250 GW of new capacity in the coming years, hitting 383GW, which represents an increase of 189%, local magazine Exame said, citing the BNEF study. Renewables, including small and large hydropower plants (HPPs) will account for about 89% of that.
Wind, solar and biomass are expected to expand their combined share of total capacity from the current 14% to 51% by 2040.
According to BNEF analyst Lilian Alves, roughly USD 125 billion of the total projected investment will go to solar projects, including USD 93 billion for distributed generation. Wind, biomass and hydro follow respectively.