Huge potential but route-to-market uncertainty: What is the actual appetite for offshore wind in Brazil and who will bid in its upcoming auction?
With over 100 projects and almost 250 GW of capacity in the early-stage project pipeline, Brazil looks teeming with interest on the surface. But which projects are most well-positioned to start development once the first seabed auction kicks off – and which developers remain hungry for a piece of the market, after years of waiting for policy to fall into place?
Earlier this year, a new regulatory framework for offshore wind development was signed into law by the Brazilian government, outlining the process for awarding seabed use rights. With the foundational work finally done, the industry now awaits more concrete information on the first tender for awarding seabed rights.
But priorities have changed for many developers since they first announced projects in Brazil years ago – investments are weighed more carefully than ever and sector appetite for emerging markets is still far from the heyday of the early 2020’s.
Most projects in Brazil’s very early-stage pipeline will not be relevant for the first auction – but some will.
Are you interested in a detailed overview of the Brazilian offshore wind market including a developer portfolio view and a full project pipeline merit order for Brazil?
Aegir Insights helps clients analyze and evaluate opportunities globally. To learn more about Aegir Insights’ market intelligence on Brazil, estimated LCoE levels and market outlook, reach out to our Americas lead analyst Signe Sørensen or get in contact here.
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