Brazil is the sixth country in the world that has invested the most in energy transition and the leader in Latin America, according to BloombergNEF's Energy Transition Investment Trends 2024 report. The document highlighted that the country invested, in 2023 alone, around US$ 34 .8 billion. Renewable energy, electric vehicles, hydrogen and carbon capture drove year-on-year investment growth.
“Brazil is already seen as a protagonist in the global energy transition, especially in the global south. Therefore, the eyes of the world are focused on us. We will continue in this leadership, promoting a fair and inclusive energy transition. We are anticipating more investments in the coming years, for example, in auctions for new lines, in the National Hydrogen Program, in which we will triple investments among other initiatives that are being developed by the MME”, pointed out the Minister of Mines and Energy, Alexandre Silveira .
According to the MME's National Secretary for Energy Transition and Planning, Thiago Barral, due to the incidence of sunshine and strong winds common in the region, investments in renewable generation go especially to the Northeast of the country.
Global rise in investments in energy transition
Regional wind and photovoltaic plants require attention when planning investments in the network, ensuring compliance with reliability criteria.
Global investment in clean energy reached US1TP4Q135 billion in 2023; US$259 billion is expected by 2025, according to the document. China leads with US$676 billion invested in 2023, or 38% of the total.
Emerging areas such as hydrogen, for example, have seen global investment triple in recent years, shows the Bloomberg document. Carbon capture and storage almost doubled and energy storage increased investments by around 76%.
The report also shows that investment in the global clean energy supply chain, including equipment factories and production of battery metals for energy technologies, reached a new record of US$135 billion in 2023 – compared to just US$46 billion in 2020. The forecast is expected to increase even more in the next two years. Bloomberg projects this value to rise to US$259 billion by 2025.
Source: datagro
