Brazil is becoming one of the world’s most overheated coming-soon offshore wind markets

Last week, state-controlled offshore oil producer Petrobras joined the already crowded project pipeline with 10 projects, totaling almost 23 GW. ​

These ten projects, which Petrobras is looking to develop by itself, will be added to the seven projects Petrobras is developing jointly with Equinor – and the rest of the 78 offshore wind projects that have put in a ticket for an environmental license at the Instituto Brasileiro do Meio Ambiente e dos Recursos Naturais Renováveis (IBAMA).​

This brings Brazil's offshore wind pipeline to more than 80 projects and 200 GW of theoretical capacity!​

Petrobras announced its plans shortly after the Minister of Energy and Mines, Alexandre Silveira, stated at the Brazil Windpower 2023 event that he is working on approving the long-awaited framework for offshore wind power in Brazil, with the goal of concluding the work by December. This news, along with a supporting press release from the Ministry of Mines and Energy, has sparked hope for the progress of numerous projects in Brazil's permitting pipeline.​

As Brazil currently functions as an open-door market, a large part of the announced projects overlap significantly, making it impossible for all projects in Brazil's offshore wind pipeline to be developed. The realistic pipeline is therefore much lower – and a main point of interest in the new framework will be how Brazil decides to award seabed rights in areas where more than one developer is interested.​

​Aegir Insights' market intelligence

Are you interested in a more detailed overview of Brazil's offshore wind pipeline and the opportunities and developments in the market?​

At Aegir Insights, we recently updated our market reports on Brazil, including project overviews, estimated LCoE levels and insights into potential seabed allocation methods.​

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