Brazil is making significant progress in expanding its renewable energy capacity, attributed to favorable national policies and foreign investment. The country aims for a low-carbon energy mix of approximately 50% from renewables by 2025, having diversified its sources to include solar, wind, and bioenergy. As of now, energy-related emissions represent less than 20% of Brazil’s total greenhouse gases, much lower than the global average of around 75%.
In August, Brazil added 1.68 GW of renewable capacity, contributing to a total of 221 GW, with 85% derived from renewable sources. Efforts are further supported by the World Bank, which has approved a $500 million loan to enhance investment in clean energy in Brazil’s Northeast region. Additionally, the New Development Bank has financed a 648-MW wind project in Paraíba.
In the lead-up to the upcoming presidential elections, business groups are advocating for a green growth agenda. The Brazilian Business Council for Sustainable Development (CEBDS) has emphasized the need for strategic policies to leverage Brazil’s natural resources for economic viability. The two main candidates, President Luiz Inácio Lula da Silva and Senator Flávio Bolsonaro, present contrasting views on energy expansion, with Bolsonaro favoring oil and gas even as support for green energy grows.
Overall, strong national policies and foreign investments bolster Brazil’s transition to renewables, likely continuing despite the election outcomes.
