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.
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