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development has been driven by the government’s active support for development of the renewable energy sector to meet Brazil’s growing demand for energy, as well as the competitiveness of wind relative to other energy sources in Brazil.170 The strong growth of wind projects, particularly since 2009, has attracted a number of wind firms to the market. Among project developers and construction firms, European wind service firms have a large presence in the Brazilian market, although Brazil’s Renova remains the leading developer.171 Among OEMs, the market is quite competitive, with substantial participation by foreign manufacturers, such as GE (based in the United States), IMPSA (Argentina), Enercon (Germany), Gamesa (Spain), and Vestas (Denmark).172 In Brazil, OEMs typically do not participate in project development, but instead provide limited services related to logistics and the supervision of turbine erection or crane services, in addition to providing the majority of O&M services.173 As the Brazilian market has grown, a number of challenges have reportedly emerged. One is the inadequate grid, which prevents developers from selling surplus power on the unregulated market, as well as delivering power as contracted in PPAs.174 As a result, in the future, grid connection will be the responsibility of the project developer, a change that will be reflected in higher PPA prices.175 Moreover, PPAs for the regulated electricity market are awarded through reverse auction, a requirement that is also said to present a challenge for wind service firms. One industry representative indicated that not only is the process unfamiliar to foreign wind firms, but also it has pushed the price of electricity down while project costs are boosted by local-content requirements.176 As mentioned earlier, local-content requirements are a prerequisite for funding from the national development bank, BNDES, and present a particular challenge for foreign OEMs.177 However, these requirements also indirectly impact developers, as they can create bottlenecks in the supply chain. Nevertheless, due to its cost competitiveness, wind energy has won most of the energy auctions set aside for renewable energy.178 170 Through the PROINFA program, which ended in 2011, the government actively encouraged development of renewable energy in an effort to diversify its power sources. Currently, low water levels are hindering the country’s reliance on hydropower, and the high price of diesel makes thermal plants very expensive. In contrast, wind energy is cost competitive, due to the strong, consistent equatorial winds already mentioned, and projects are typically able to be constructed and commissioned with a relatively short turnaround time. Industry representative, interview by USITC staff, São Paulo, Brazil, May 9, 2013; industry representative, interview by USITC staff, São Paulo, Brazil, May 8, 2013; industry representative, interview by USITC staff, Rio de Janeiro, Brazil, May 7, 2013. 171 Developers include subsidiaries of Iberdrola (Spain), EDP Renováveis (Portugal/Spain), and GDF Suez (France). Industry representative, telephone interview by USITC staff, April 11, 2013. 172 BTM Consult, World Market Update 2012, 78. 173 Currently, OEMs provide nearly all O&M services in the Brazilian market. However, industry representatives believe this may change, either through the development of O&M ISPs or the development of in-house capabilities by wind farm owners. Industry representative, interview by USITC staff, São Paulo, Brazil, May 8, 2013; industry representative, interview by USITC staff, São Paulo, Brazil, May 9, 2013. 174 600 MW of wind power installed in 2012 lacked grid connections. Spatuzza, “Brazil—Lack of Grid Connections Keeps Wind Farms Offline,” March 1, 2013. 175 Industry representative, interview by USITC staff, São Paulo, Brazil, May 8, 2013; industry representative, interview by USITC staff, Rio de Janeiro, Brazil, May 7, 2013. 176 Industry representative, telephone interview by USITC staff, April 11, 2013. 177 Previously Brazil had a 60 percent local-content requirement. The government recently introduced new regulations that require that certain stages in the manufacturing process or certain components must be manufactured in Brazil in order to qualify for financing from the national development bank, BNDES. Financing from BNDES is considered essential, as it offers very low rates compared to commercial banks, and accounts for the majority of project finance in the market. Industry representative, interview by USITC staff, São Paulo, Brazil, May 8, 2013; industry representative, interview by USITC staff, Rio de Janeiro, Brazil, May 7, 2013. 178 Industry representatives, interviews by USITC staff, São Paulo, Brazil, May 8–10, 2013. 4-27PDF Image | Renewable Energy and Related Services: Recent Developments
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