With abundant natural resources, coupled with the positive Governmental support and initiatives, Wind Energy is creating much hullabaloo in Brazil.
The Brazilian economy today can be characterized into one of the fastest growing economies of the world. The population figures too are raising eyebrows. Being Latin America’s largest nation, this burgeoning economy’s consumption of power has been a major issue of discussion worldwide. Also, with the rising growth rate of overall installed capacity year by year, its renewable resources, especially wind, have had some staggering growth figures over the years.
According to a recently published report by TechSci Research “Brazil Wind Power Market Forecast & Opportunities, 2017” Brazil Wind Power market will continue to display some more fireworks, as it is all set to grow at an expected CAGR of 33.72 percent during 2012-2017, crossing 9 GW of installed capacity by 2017. With national and global wind power companies presently in operations in Brazil and with commendable Government support, the Brazilian wind power industry will be witnessing a lot of developmental activities in the coming years which in turn will further increase the dominance of Brazil over the Latin America market.
With the major contribution of Hydro Power in the total electricity generation in Brazil till date, there was not much space for Wind Energy to display its might until 2006 when this power resource added more than 200 MW of installed wind power capacity. That can as well be termed as a turning point for Wind Power in Brazil. The PROINFA program and the various power auctions which took place in Brazil till now has been a major stimulus for its growth.
“The Brazilian Wind Power market is at a very nascent stage currently, but the recent trends suggests that it will not be too long before Brazil becomes an enshrined member of the coterie of high wind power utilizing nations and as such it could become Brazil’s second power generation source by 2015” said Karan Chechi, Research Director at TechSci Research a global research based management consulting firm.
‘Brazil Wind Power Market Forecast & Opportunities, 2017’ has evaluated the future growth potential of wind energy market and provides statistics and information on market structure, trends and opportunities. The report includes segmental market projections and demand forecasting. The report is intended to provide cutting-edge market intelligence and help decision makers to take sound investment evaluation. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities available in wind energy market worldwide.