The renewable energy sector in Brazil has high expectations for growth in the coming years. By 2024, solar power will account for 4% of Brazil’s energy matrix, and wind power will be the second-largest energy source by 2020, accounting for 12% of production, according to the Brazilian Photovoltaic Solar Energy Association (ABSOLAR) and the Brazilian Wind Energy Association (ABEEólica). Solar energy currently accounts for 0.02% of the energy matrix and wind for 6%.
Following this trend, GE’s Power Conversion business has just completed domestic content compliance for its solar and wind inverters—the LV5 and DTA CFI lines, respectively—following the rules set out by Brazil’s state-owned development bank, BNDES, regarding how much of the equipment is manufactured in Brazil. This means Brazilian clients can get BNDES credit at more attractive interest rates.
GE has been pioneering 1,500-volt LV5 solar inverters that bring high cost-effectiveness to utility solar farms. Since the launch of its 1,500-volt inverters in 2014, GE has delivered more than 1 GW and accumulated a further 4 GW in backlog globally. Now that the inverters have obtained BNDES accreditation, it opens the avenue for us to continue to deliver value also to Brazilian customers and local solar farms.
Source: General Electric