According to the Energy Research Company (EPE), the renewable segment will receive investments from R$ 50 billion to R$ 70 billion with the creation of renewable parks near large consumption centers in the next ten years. The advance of renewable sources in Brazil has increased the dispute between new and giant companies in the energy sector.
Among the factors driving new renewable projects in companies are the biggest concern with the environmental agenda, the instability of electricity bill prices and the drop of up to 60% in solar and wind energy costs since 2015.
One example is the Gera Group, which plans to invest R$ 200 million to expand its capacity to 55 megawatts by the end of 2021. In an interview with O Globo, the group's president, Ramon Oliveira, said that biogas and solar projects are already under construction in Rio, which will be ready in July next year:
France's GreenYellow also plans to expand its capacity from 30 megawatts to 130 megawatts by 2022 and raise R$ 500 million in investments, with solar plants in the State of Rio.