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Brazil solar entices Taiwanese investment

Brazil government, industry promote the South American country as ideal investment destination for Taiwan

ApexBrasil and TAITRA sign MOU to support Taiwanese investment in Brazil solar

ApexBrasil and TAITRA sign MOU to support Taiwanese investment in Brazil solar (Taiwan News photo)

TAIPEI (Taiwan News) – On the sidelines of Energy Taiwan 2018 trade show, trade agencies from Brazil and Taiwan signed a memorandum of understand (MOU) to help further Taiwanese investment in Brazil's renewable energy industry.

The MOU was signed during the "Brazilian Solar Investment Opportunities Seminar" held in Taipei on Sept. 20, where opportunities for mutual benefit in Brazil's rapidly growing solar industry was extolled to over 50 business people.

At the event, Fábio G. Franco, Director of the Commercial Office of Brazil, Taipei said that Brazil and Taiwan are great friends, and collaboration in Brazil's renewable energy space is a "match made in heaven."

Leonor Lin (林芳苗), Executive Vice-President of Taiwan External Trade Development Council (TAITRA) spoke highly of the opportunities and benefits laid out in the MOU, and mentioned Taiwan's commitment to green energy.

José Mario Antunes, Head of Asia for the Brazilian Trade and Investment Promotion Agency (ApexBrasil) was on hand to network and promote new opportunities for Brazil-Taiwan exchange, and outlined how ApexBrasil can facilitate and support Taiwan investments.

Keynote speeches were given by a senior official from Brazil's PV Solar Association, a senior official from Brazil's Ministry of Mines and Energy, and a lawyer from corporate law firm Mattos Filho.

Bernardo Folly de Aguiar, Head of the Department of Power Generation Plants at Brazil's Ministry of Mines and Energy outlined Brazil's solar energy policy and future outlook for the rapidly-growing sector.

De Aguiar said that northeast of Brazil has very favorable irradiation, and is one of the premier places in the world for solar.

De Aguiar referred to Brazil's renewable energy target, in which the South American country plans to draw 48 percent of its energy usage from renewable sources.

Marcio Takata, Regional Councilor of Brazil's PV Solar Association said that Brazil's current stage of solar development is ideal for foreign investment. The cost of inputs in solar production has decreased significantly, and the price of electricity has increased, leading to strong investment potential.

Brazil is developing strong "technical potential" in solar through specialization and knowledge gained from rolling out thousands of projects across the country, Takata said.

Now is a good time for Taiwanese investment in Brazil solar, because much of the early teething pains from setting up the industry have been had, and the sector is on the precipice of exponential growth.

Bruno Dario Werneck, partner at Brazilian corporate law firm Mattos Filho spoke about the legal framework and past successes of foreign investment in Brazil. He said Brazil's regulatory framework is conducive to reasonably secure foreign investment, and downplayed political risks associated with the county's upcoming election.

Werneck added that the long-term nature of government solar contracts was attractive to foreign investment.

The event was jointly put on by the Commercial Office of Brazil, TAITRA, and ApexBrasil.

Updated : 2021-09-22 14:52 GMT+08:00