Energy Summit panellists say that Brasília needs to act quickly on framework for energy storage and long-term concessions
Senior Chinese energy executives have called on Brazil to fix its regulatory framework and provide long-term predictability, warning that delays could hamper billions of dollars in green investment.
The requests for transparency came on Thursday during a panel discussion at the Energy Summit in Rio de Janeiro, where representatives from the State Power Investment Corporation (SPIC) and China Energy Engineering Corporation (CEEC) said that Brazil risked falling behind unless it acted quickly to clarify rules for energy storage and long-term concessions.
China has become one of Brazil’s biggest energy investors, pouring US$1.73 billion into the sector in 2023, a 33 per cent rise from the previous year, with roughly 72 per cent of confirmed projects focusing on wind, solar and other clean technologies, according to the Brazil-China Business Council.
Since 2007, Chinese firms have invested a total of US$73.3 billion in Brazil generally, making it the fourth-largest destination globally for Chinese capital.
