Chinese state power giant expands Brazilian onshore wind footprint amid Western retreat
Abnormally high hydropower capacity has put pressure on Brazil’s wind sector recently but Chinese appetite is not waning
As some Western wind giants sound the retreat from onshore wind in Brazil, a Chinese state-owned power giant has followed its turbine making compatriot Goldwind in moving in the other direction.
Construction is expected to begin by the start of next year and commissioning is planned for 2026 for the projects in the state of Rio Grande do Norte.
Adriana Waltrick, CEO of SPIC’s Brazilian unit, reportedly said the company is aiming to become one of Brazil’s largest three energy generators.
The Chinese power giant already has diverse interests in Brazil’s renewables sector, including in wind and solar farms and a 1.7GW hydropower plant. It has around 3.8GW of installed capacity in total.
The squeeze this has put on the wind sector has contributed to several Western OEMs – including Germany’s Nordex, GE Renewable Energy (as it was known at the time) and Siemens Gamesa – scaling down or suspending operations in Brazil.
Among developers, Spanish renewables giant Acciona Energia has scaled down its Brazilian operations in what was seen as a response to prevailing low prices for electricity, as well as high interest rates and high cost of capital.
Other onshore wind developers remain upbeat about Brazil, however, with Norwegian giants Statkraft and Equinor among those involved in acquisitions last year.
That has set up the Chinese wind giant to go head to head with local market leader Vestas –one Western turbine maker that has continued to thrive in Brazil.
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