Market Overview
The Brazil renewable energy market was valued at USD 17.4 Billion in 2025 and is projected to reach USD 31.0 Billion by 2034, growing at a CAGR of 6.60% during the forecast period 2026-2034. The market’s growth is propelled by abundant natural resources and rising investments in key renewable sectors such as solar, wind, and biomass. Government initiatives and tax incentives further encourage private and foreign investments, strengthening Brazil’s position in clean energy development. For detailed insights, visit the Brazil Renewable Energy Market.Â
Study Assumption Years
• Base Year: 2025
• Historical Year or Period: 2020-2025
• Forecast Year or Period: 2026-2034
Brazil Renewable Energy Market Key Takeaways
• The Brazil renewable energy market size reached USD 17.4 Billion in 2025.
• The market is expected to grow at a CAGR of 6.60% during the forecast period 2026-2034.
• Government initiatives like Proinfa and tax incentives have accelerated project approvals and renewable energy investments.
• Key market drivers include Brazil’s high solar irradiance and favorable wind conditions, supporting solar and wind energy projects.
• The market experiences rapid expansion in solar and wind energy capacity due to declining technology costs and favorable geography.
• Growing interest in biomass energy and green hydrogen projects highlights Brazil’s diverse renewable energy portfolio.
• Increasing private investment boosts renewable energy expansion across wind farms, solar parks, and biomass plants.
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Market Growth Factors
Brazil’s large reserves of natural resources, especially its high solar irradiance and favorable wind regime, combined with supportive government policies (including renewable energy auctions, tax benefits and financial incentives), have led to the blossoming of domestic and foreign investments in the sector, with expanding and increasingly important markets in solar, wind and biomass power, and the emerging one in green hydrogen.
Government projects such as Proinfa and taxes aimed at that sector are cited as responsible for much of this increase thanks to their ability to attract private and foreign investments and allow for more agile licensing processes. In 2023, the scheme maneuvers to accelerate growth established a USD 12.5 billion financing program for the renewable energy sector, with a focus on solar energy plants.
Private sector investment continues to drive capital into large scale wind farms, utility scale solar parks and bio-mass plants. Opportunities for private equity, pension and infrastructure investors to invest into grid-widening opportunities, such as smart meters and energy storage that improve the security of the grid in the long term, are growing.
Market Segmentation
By Type
• Wind
• Solar
• Hydro
• Bioenergy
Regional Insights
The Southeast region, including Sao Paulo, Rio de Janeiro, and Minas Gerais, serves as a renewable energy hub driven by hydropower dominance and growing solar installations. Industrial demand and distributed solar systems further strengthen the region’s contribution, positioning Southeast Brazil as a key market contributor.
Recent Developments & News
In July 2025, CGN commissioned its first 165 MW Lagoinha solar project in northeastern Brazil using Chinese technology.
In June 2025, 2C Energia launched a 2.7 MW solar plant in the Federal District integrated with ethanol operations.
In March 2025, Statkraft added 519 MW and 80 MW wind projects in Bahia.
In February 2025, Brazil launched the Energy Transition Acceleration Program backing low-carbon projects through a Green Fund managed by BNDES.
In October 2023, ENGIE agreed to acquire 545 MW of solar assets for €618 million.
In May 2024, Eletrobras partnered with the Maranhão government to promote renewable hydrogen production.
Key Players
• CGN
• 2C Energia
• Statkraft
• ENGIE
• Eletrobras
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