Brazil's Piaui govt clears operations for 300-MW wind park
Sep 12, 2024 9:29 CESTSouth America, led by the Brazilian market, will add about 41.2 GW of new onshore wind projects over the next ten years even as certain challenges still limit the upside for capacity additions, according to a new report from Wood Mackenzie.
The analyst firm estimates that through 2032 the region will more than double its onshore wind power generation capacity to some 75 GW from nearly 34 GW at end-2022. Brazil is expected to account for the addition of 23 GW of capacity and 56% of all growth. It will be followed by Chile.
Karys Prado, Senior Research Analyst, Power & Renewables with Wood Mackenzie, commented that the market is now driven by a new wave of free market activity.
“We will see large offtakers from the commercial and industrial sectors shifting away from auctions and migrating to the unregulated (or so-called free) market to seek favourable power purchase agreements. This will significantly drive buildout in South America moving forward, mostly in Argentina, Brazil, Chile and Peru. However, less mature markets like Colombia and Ecuador will continue to rely on the regulated market,” she stated.
Prado, however, notes that grid constraints in wind-rich locations limit the expansion potential for wind power, as does the competition from solar buildouts which are seen to become cheaper over time.
Brazil's Piaui govt clears operations for 300-MW wind park
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