A study recently released by the consulting firm Bloomberg New Energy Finance indicates that Brazil is expected to receive nearly US$$ 100 billion in solar energy investments by 2040. Once overlooked due to its high implementation costs, photovoltaic energy is now a reality in Latin America’s largest country, and its growth is driving activity throughout the sector’s supply chain.
“The billion-dollar investments in the photovoltaic energy sector are already having an impact on the demand for special wires and cables that can keep pace with the technology and the improvement of photovoltaic panels. We see manufacturers eager for raw materials that are capable, efficient, competitive, and that meet all the standards required by the sector, Paulo Garnica, owner of FG Wire and FG Resinas, manufacturers of compounds for cables, including photovoltaic ones, tells ANSA.
According to him, the company is “ready and eager” to meet the growth in demand. “We are already noticing this in our portfolio. Currently, the demand for raw materials and masterbatches [a compound used to color plastic products] for the photovoltaic energy line is growing monthly,” adds Garnica, who is seeking leadership in the Brazilian market.
The executive says that FG will showcase its products focused on solar energy at the next edition of Wire South America, a wire and cable trade fair held by Messe Düsseldorf and organized by Cipa Fiera Milano. The event takes place from October 1st to 3rd, at the São Paulo Expo, in the southern zone of São Paulo, alongside the 10th edition of Tubotech, dedicated to pipes, valves, pumps, and fittings.
Growth
Brazil has been receiving billions of dollars in investments in renewable energy in recent years, including through global giants in the sector such as Italy's Enel, owner of some of the country's largest wind and photovoltaic farms.
According to a study released in May by the Institute of Applied Economic Research (IPEA), approximately 41,000 solar power plants were installed in Brazil between 2016 and 2018. This increased the share of photovoltaic power in the national energy mix from 0.1% to 1.4%. When wind farms are included, the figure exceeds 10%.
“Healthy competition is extremely important for Brazil's sustainable development. The arrival of giants honors us and shows that the world is believing in our country again,” states the owner of FG Wire.
Garnica also predicts that the solar energy sector will become increasingly important for the wire and cable market. “Photovoltaic energy is the flavor of the month,” he states.
SOURCE: TERRA
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