Following the enactment of Decree No. 10,946/2022, the Brazilian legal framework for offshore power generation projects has been further regulated by (i) MME Ordinance No. 52/2022; and (ii) MME/MMA Joint Ordinance No. 03/2022. Both the Ordinance and the Joint Ordinance became effective simultaneously on November 1, 2022.
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The Brazilian state of Rio Grande do Norte has signed an agreement with Enterprize Energy, a low-carbon energy producer, to find and develop prospects for offshore wind, green hydrogen, and green ammonia projects off the country’s northern coast.
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Growing momentum for the development of offshore wind capacity in Brazil presents significant upside risk to our mid- to long-term wind power forecasts. While the continued suspension of power and renewables auctions presents some downside risks to our medium to long-term growth outlook for the wind power sector, risks remain mostly to the upside.
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