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Investment in Brazil to see 64 wind turbines for Ceara

Date added: 26th July, 2011 at 14:40
(view all articles from July, 2011)

Categories: Economy, Natural Resources, Rio

Property in Ceara may increase in value as investment in Brazil sees the commissioning of five wind farms.

As many as 63 turbines are planned for the state as well as Piaui, which is also located in the North East of the country.

The work, which was commissioned by Tractebel Energia in Florianopolis, will be delivered by international energy company Siemens.

It may not be a surprise to those with previous experience of investment in Brazil to see more wind farms cropping up in the country as the German firm highlighted the growth of the renewable power industry in the Latin American nation.

Indeed, chief executive officer of Siemens Jens-Peter Saul noted that this is the third order received by the company to build turbines in Brazil over the last six months.

The firm will deliver SWT-2.3-101 products to the country, each of which have a rating of 2.3 megawatt (mw), with all 63 together achieving a capacity of 145mw.

Siemens pointed to expert predictions that as much as five gigawatts of energy will be produced through turbines in the nation by 2015, with the territory seen as an important part of the wind industry in Latin America.

Indeed, the energy company itself is planning an investment in Brazil, aiming to base more of its operations in the country.

The power and fuel industry is an important one in the Latin American nation, which is already a major global player in ethanol production and is expected to be a leading source of oil in the future following substantial offshore discoveries of the resource.

This may make it a fitting host for the Rio+20 Earth Summit, which will be held in Rio de Janeiro in June 2012 and will see 120 heads of state and government officials visit the city to discuss the green economy.

In an article on the Natural Resources Defence Council's Staff Blog, Carolina Herrara pointed out that it is "critical that Latin American countries aim for clear and concrete commitments to ensure the region achieves a low-carbon development path".

Brazil's role in the renewable energy industry could be a profitable one for the nation, as the expert brought attention to a recent United Nations Environment Programme report showing that $7 billion (£4.27 billion) of investment in Brazil in 2010 was ploughed into the sector.

This represents an annual growth rate of 62 per cent between from 2004 to 2010 while the amount of money thrown at such operations jumped to $14.1 billion in Latin America as a whole last year - a 39 per cent rise.

Worldwide, investments in renewable energy were up 32 per cent to $211 billion in 2010 and Ms Herrara stated that Brazil should take the opportunity to put itself forward as a major player in the industry.

She said the nation must "show real leadership in the developing world by avoiding vague proposals and instead making concrete commitments to action".

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