Transactions between photovoltaic energy generation and distribution businesses in Brazil almost doubled last year. Installed capacity grew by 84%.
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At the Brazil Africa Forum in São Paulo, representatives from cities and institutions presented initiatives implemented to boost green energy generation. The Arab Brazilian Chamber’s secretary-general talked about investments of oil profits in green projects.
Projects aim to increase wind and solar energy capacity in the Middle East and North Africa from 12.1 to 73 GW by 2030. Oman, Morocco, Algeria and Kuwait have some of the most ambitious plans.
Combined electrical power generated from wind and solar sources is already the second most used in the Brazilian market, behind only hydraulic. The use of clean energy sources has been growing in the country.
Alfanar is an industrial and construction conglomerate that operates in the power sector in several countries. Arab Chamber executives visited the company’s complex outside Riyadh.
The Arab country boasts 2,965 megawatts in installed capacity for renewable energy, and it expects to add 10,000 MW by 2030.
