Brazil requires 50 GW power grid expansion by 2024

Stagnant industrial activity in Brazil is unlikely to impact the country's need to expand grid capacity 5 GW a year, according to Business News Americas.

Brazil must increase installed power capacity 38 percent to 180 GW by 2024 if it is to meet future electricity demand.

The prediction comes despite Brazil's economy having slipped into recession in July after two quarters of negative growth, prompting the government to revise down its 2015 power consumption forecast.

"The longer-term forecasts still imply annual demand growth of nearly 4 percent, which would entail an additional 5 GW of new capacity each year," the report said. "Likewise, most forecasts predict that the economy, after this year's dip, will start to rebound in 2015."

Brazil's federal energy planning company EPE expects new generation investments to reach $56 billion by 2023, with an additional $31.3 billion in already contracted or authorized projects.

About $27.4 billion is forecast to come from solar, wind, biomass and run-of-the-river hydropower projects.

Despite its focus on renewable sources, Brazil is expected to continue to rely on thermoelectric plants — particularly in times of low rainfall.

EPE projects investments of $6.2 billion in new thermopower capacity over the next decade.

"To firm up the system, Brazil in the coming years will likely focus on renovating and expanding its natural gas-fired plants, as well as building gas pipelines and associated infrastructure," the report added.

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...

Reduce Engineering Project Complexity

Engineering document management presents unique and complex challenges. A solution based in Enter...

Revolutionizing Asset Management in the Electric Power Industry

With the arrival of the Industrial Internet of Things, data is growing and becoming more accessib...

Latest PennEnergy Jobs

PennEnergy Oil & Gas Jobs