Lewes, DE -- (SBWIRE) -- 06/05/2014 -- The research is maintaining forecasts for non-hydropower renewable energy generation in Brazil this quarter as assumptions for the sector remain relevant. While there were a number of major developments in the sector over the second quarter of 2014, these developments are not likely to impact our near-term forecasts. Research do see several risks to long-term outlook, such as further delays to wind projects and increases in hydrocarbon production and hydropower generation.
The research is maintaining our 2014 forecasts for non-hydropower renewable energy generation in Brazil this quarter as our assumptions for the sector remain relevant. While there were a number of major developments in the sector over the second quarter of 2014, these developments are not likely to have any foreseeable impact on forecasts over the near-term.
The report also maintained long-term forecasts for non-hydropower renewable energy generation in Brazil in Q314. Research is forecasting non-hydropower renewable energy generation to grow an average of 6.8% per annum between 2014 and 2023. This will be primarily driven by growth in wind and biomass capacity.
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- The government has changed how it gauges capacity based on how much electricity can be guaranteed to be generated 90% of the time (versus 50% of the time under previous auctions).
- In March, wind energy developer Renova Energia was forced to postpone the launch of six of its wind farms with a combined capacity of 153MW as the federal utility Chesf had not completed construction of the substation.
- The Brazilian energy agency Empresa de Pesquisa Energética announced that it had designed a special contract for solar photovoltaic projects for the reserve energy tender (A5) to be held later in 2014. This new contract takes the deterioration of the equipment over time into account, which is likely to be positive for investors.
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