La Banca Nazionale for Economic and Social Development of Brazil has allocated $ 790 million to finance the construction of nine wind farms in the states of Ceará and Rio Grande do Sul. Another 44 projects are under analysis.
To date almost 70% of the energy generated by Brazil was derived from hydropower but now trying to diversify investment: National Bank for Economic Development and Social of Brazil (BNDES ) has allocated $ 790 million to finance the construction of nine wind farms in the states of Ceará and Rio Grande do Sul.
The current wind power capacity in Brazil reaches 927 megawatts, 0.6% of total electricity production but it is estimated that by 2013 production will reach 3.5%. Ricardo Simões, president of the Brazilian Wind Energy, predicts that by 2022 production will exceed 20% of the total.
The interest in alternative energy was born in 2004, with the approval by the federal government, the project Priofa Program (incentives for alternative sources of electricity). About 70% of investments in the sector comes from the Brazilian Development Bank, the wind energy sector, has 44 more projects under analysis worth 3.3 billion dollars.
The considerable investments are favoring competition among manufacturers of turbines and is expected entry of new international competitors. The investment will not only benefit from the ecological point of view, but also economic prosperity for local communities.
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