Brazil Renewable Energy News

Recent industry report about Brazil Renewable Energy company news, including latest market trends and industry updates in 2024. This sector news is compiled by Mordor Intelligence™ Brazil Renewable Energy Market industry experts.

Brazil Renewable Energy News

  • October 2022: Brazil announced the awarding of renewable power supply contracts to around 557.5 MW of combined capacity projects in the tender. The contracts signed represent around USD 570 million in future investment. The tender purchased energy from solar, wind, hydro, and biomass sources.
  • May 2022: GE Renewable Energy's Hydro and Grid Solutions segment announced jointly signing a deal to upgrade the Itaipu hydropower plant in Brazil and Paraguay. The power plant has a 14 GW capacity. This project is considered the largest technological upgrade of the hydropower plant in 40 years. The upgrade includes the systems and equipment of all 20 energy-generating units, along with the improvement of the plant's measurement, control, regulation, monitoring, and protection systems.
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  • June 2023: Canada's Minister of Natural Resources announced a USD 10 million contribution to BioLesna Carbon Technologies LP, a joint venture between BC Biocarbon and Dunkley Lumber Ltd., for a new biorefinery in Carrot River, Saskatchewan.
  • June 2023: Australia's Victorian government announced USD 8 million bioenergy fund, Victoria's largest investment in bioenergy to date, designed to significantly boost the region's bioenergy capacity. The fund supports 24 projects and will ensure that farming and food production waste, such as cooking oil, dairy excess, and vegetable offcuts, will be converted into electricity, heat, gas, or liquid fuel.
  • May 2023: Subterra Renewables, a leading Canadian geothermal developer and engineering firm, announced its winning bid in TerraScale Inc.'s Request for Proposal (RFP) for its Green Snow Project. The Green Snow Project is an ambitious geothermal energy initiative located in Northern Japan. It is a groundbreaking collaboration between TerraScale and Climate Transition Development Corporation and Global Family.
  • February 2023: Fuji Electric Co., Ltd. announced that it was awarded a contract for a supply of geothermal energy project for the Menengai geothermal power station in Kenya by Toyota Tsusho Corporation, which entered into an EPC contract with QPEA GT Menengai Limited.
  • May 2023: A Germany-based power producer, RWE, announced to acquire 49% stake in Nordseecluster, a 1.6 GW cluster of offshore wind farms from Northland Power, for around USD 37.5 million. The other 2.6 GW of operating capacity lies with Northland Power. The Nordseecluster offshore wind farm was a joint venture by RWE and Northland before this transaction. The total gross capacity comprises 1,560 MW of offshore wind projects, including Nordsee-2, Nordsee-3, Delta Nordsee, and Godewind.
  • May 2023: A German automotive giant, Mercedes-Benz, unveiled plans to develop a 120 MW wind farm at its test track in Papenburg, Germany. The company has awarded a long-term contract to Umweltgerechte Kraftanlagen (UKA). The company source around 20% of the annual electricity requirements from the wind farm in Germany, which 20 countries will power.
  • In March 2023, North Carolina regulators issued an order to strengthen the state's rooftop solar market by approving a three-year glide path for solar customers to transition from monthly credits to a more dynamic time-of-use rate structure that incentivizes the use of solar when it is most valuable.
  • In June 2022, New Delhi-based Ornate Solar commissioned India's largest building-integrated rooftop solar system in Bhagru, Rajasthan. The 530 kWp InRoof system will help Canada-based natural stone manufacturer Pangaea Natural Stone to meet its net-zero goals by offsetting 18,346 metric tons of CO2 emissions.
  • November 2023: ACCIONA Energía has announced that it has been awarded, together with its local partner Freya Renewables, development rights for a 160MW wind farm in The Philippines. The contract has been awarded by the Philippine Department of Energy (DOE) through its fourth Open and Competitive Selection Process (OCSP4) for hydropower, geothermal, and wind energy resources. It entails exploration, development, and utilization of rights of wind resources in a predetermined area in the municipality of Pantabangan, 150 kilometers north of Manila.
  • September 2022: Ahunan Power announced an acquisition of a majority stake in Olympia Violago Water and Power (OVWPI), a renewable energy developer. This company owns the rights to develop a 500 MW pumped hydro storage project.
  • June 2022: The Philippines Department of Energy announced the grant of 19 contracts to develop around 1.57 GW of renewable energy projects under the first round of the 2 GW Green Energy Auction Program (GEAP). This auction was held for the country's hydro, solar, wind, and biomass projects.
  • October 2022: Orsted, a Danish energy company, announced its intentions to develop four new offshore wind farms, aiming to increase the country's wind power production twofold. This strategic move is part of Denmark's efforts to reduce its reliance on Russian gas and oil. Orsted partnered with investment fund Copenhagen Infrastructure Partners (CIP) to collaborate on developing approximately 5.2 GW of offshore wind capacity across four projects in Denmark, as stated in their official statement.
  • June 2022: Denmark and Germany agreed to jointly finalize the development of the anticipated Bornholm Energy Island. Once completed by 2030, this groundbreaking project will become the world's first of its kind and provide green electricity to approximately 3.3 - 4.5 million households in Denmark and Germany. Moreover, this agreement enabled Denmark to expand the original planned capacity of the energy island from 2 to 3 gigawatts (GW). It further emphasizes the significant role it will play in supporting renewable energy generation.
  • October 2022: Brazil announced the awarding of renewable power supply contracts to around 557.5 MW of combined capacity projects in the tender. The contracts signed represent around USD 570 million in future investment. The tender purchased energy from solar, wind, hydro, and biomass sources.
  • May 2022: GE Renewable Energy's Hydro and Grid Solutions segment announced jointly signing a deal to upgrade the Itaipu hydropower plant in Brazil and Paraguay. The power plant has a 14 GW capacity. This project is considered the largest technological upgrade of the hydropower plant in 40 years. The upgrade includes the systems and equipment of all 20 energy-generating units, along with the improvement of the plant's measurement, control, regulation, monitoring, and protection systems.
  • February 2023: Virginia Transformer completed the inauguration of its fifth transformer manufacturing facility in Mexico. The new facility was expected to reduce the time consumed in manufacturing transformers. The plant is located on an area of approximately 300,000 square feet and has a substantial area for further expansions in the future.
  • October 2022: Hitachi Energy announced its plan to invest approximately USD 37 million in its power transformer factory located in South Boston, United States. The investments are aimed at increasing the factory size to support the growing utility and renewable energy sectors in the region.
  • January 2023: CG Power and Industrial Solutions Limited announced it would invest USD 15 million to expand the manufacturing capacity of its power transformers and distribution transformer units.
  • October 2022: Hitachi Energy India secured a contract from NTPC renewable energy to supply power transformers for a 4.75 GW renewable energy park in Gujarat.

  • February 2023: China announced that it had started work on the world's biggest ultrahigh-voltage energy transmission project, which will connect Southwest China's Sichuan Province and the Xizang Autonomous Region to Central China's Hubei Province. The transmission project will carry around 40 billion KW hours of electricity, including hydroelectricity from the Jinsha River's upper stream, comparable to one-sixth of Hubei Province's annual power demand.
  • January 2023: China Three Gorges (CTG) announced the commencement of construction for the 16 GW solar, wind, and coal project. The company added that the installation would eventually include 8 GW of solar power capacity, 4 GW of wind power, and 4 GW of coal-fired generation, in addition to energy storage.
  • March 2022: GE Gas Power and Harbin Electric reported that Chinese state-owned power provider Shenzhen Energy Group Corporation Co. had ordered equipment for its Guangming combined cycle power plant in Guangdong province's Shenzhen Guangming district. Three GE 9HA.01 gas turbines will be installed in a new 2-GW natural gas-fired power plant in China to support the retirement of a large regional coal-fired complex.

Brazil Renewable Energy Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)