BRAZIL TO INVEST $5.5 BILLION IN RENEWABLE ENERGY BY 2013

Brazil to Invest $5.5 Billion in Renewable Energy Sources by 2013

Posted by Greener Tomorrow on September 30th, 2010

 

The Brazilian government earlier this month held a wind, hydroelectric and biomass auction that is expected to prompt US$ 5.52 billion in investments in renewable energies in Brazil. The resulting investments are expected to come primarily from private enterprise.

The auction, which contracted power from 89 wind farms, small hydroelectric plants and biomass plants, will add an installed capacity of 2,892.2 MW to the national energy matrix.

Renewable Energy - BRIC (Brazil, Russia, India, China) Industry Guide

Brazil’s alternative energy auction was conducted through a process whereby the government first announced the energy demand stated by distributors to serve the market by 2013, and then electricity generators competed to provide energy to fill that demand at the lowest price.