Renewables boom propels Brazil into global top 10
Brazil has been ranked among the world's 10 most attractive countries for renewable energy investments by consultancy EY.
by Michael Place, BN Americas
South America's largest nation rose two places into 10th position, in its highest-ever ranking on EY's global renewable energy attractiveness index.
The U.S. was ranked first, followed by China, Germany, Japan and Canada. Chile was the second best-ranked Latin American nation, moving up one place to 13th, with Mexico and Peru also within the top 40 in 25th and 26th places, respectively.
This is the first time Brazil has featured in the top 10, spurred by its burgeoning solar and wind development.
"Two power auctions planned for this year helped Brazil's climb," according to EY. "Wind is expected to dominate again, but appetite for solar is growing rapidly with 3-5 GW of new capacity forecast."
The London-based consultancy added that a proposed tax on carbon emissions had buoyed investors in Chile.