Can Brazil Become Latin America's Largest Solar Market?

President of Brazil, Dilma Rousseff, has stated publicly that a significant proportion of Brazil’s economic development should be based on renewable energy. Such dedication from the top stands to give a significant boost to the solar sector in the country. However, in the last quarter criticism has been thrown at the Brazilian market with local content rules being imposed to access the lowest cost finance. As with all new solar markets, the government is focused on creating a domestic solar industry within the country, creating jobs for Brazilians and sinking investment straight back into the Brazilian economy.

It is reasonable that the government doesn’t want to create an environment from which only the established solar giants of Europe and the US or the rapidly rising solar industry in China can develop and profit. But are they doing enough to promote the local solar industry? Are too many barriers being put in place too early on? Can the sector see the boom that wind power saw in the country just last year?

The promise of a solar auction is proving incentive enough for some of Brazil’s leading renewable energy companies. With 1 megawatt already constructed and a license to extend this to 5 megawatts, MPX Energia has released further plans to expand their Taua solar project to 50 megawatts. At a recent shareholders meeting, the board of Renova Energia, one of the leading developers in the wind market, unanimously approved a decision to move into the solar market and also discussed a proposal to expand into the production of solar cells, wafers, modules, and inverters.

Renova Energia CEO Mathias Becker and MPX Energia COO Marcus Temke will be just two of the speakers at the Solar Brasil congress occurring in Sao Paulo on October 16th and 17th, 2012. Held during the key utility consultation period on the new net metering legislation, the conference will also be attended by top ranking officials from AgĂȘncia Nacional de Energia ElĂ©trica (ANEEL), the country’s major utilities, and leading solar firms from Europe’s Abengoa and Isofoton to China’s JA Solar and Talesun.

Banks such as HSBC, Itau BBA, and Caixa will also be attending the congress alongside the IADB, GIZ, and local Brazilian funds to present the latest financing options on offer within the Brazilian solar market for both distributed and large scale solar development and to discuss how the Brazilian solar market can be competitive.

For those wishing to make sure that all their business is in order in Brazil and contacts for development and construction are in place, this year’s Solar Brasil congress is a must-attend event.

As Latin America’s largest economy and as a country lead by a President committed to renewable energy, within no time at all Brazil can be expected to streak ahead as the continent’s leading solar market.

Find Solar Brasil along with other upcoming industry events on Energy Insight’s Renewable Energy Conferences page.

Read “Large-Scale Solar Power Systems: Construction and Economics” from Amazon.

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