Brazil Wind Energy Market - Growth, Trends, and Forecasts (2020 - 2025)

The Brazilian wind energy market is expected to record a CAGR of more than 5% during the forecast period, 2020-2025. In Brazil, the wind energy market is majorly driven by the growing power need in the country. The annual growth of the wind energy market has made the government focus on carbon emission reductions. Factors, such as increasing demand for renewable energy, rising investments in the wind power sector, supportive government policies coupled with the reduction in the cost of wind energy, are driving the wind energy market in the country. However, the increasing adoption of alternate clean power sources, such as solar photovoltaic (PV) is likely to restrain the growth of the wind energy market in the coming years.

• Onshore wind is Brazil’s second-largest power source which makes them dominant in the wind energy market in Brazil.
• The offshore wind energy market is in the development stage and has a great potential for offshore deployments, as wind is stronger and more uniform in the Brazilian offshore area. Brazil has six offshore wind farms in the licensing phase with a combined capacity of 9,715 MW, which is likely to provide the opportunity for the wind power companies in the near future.