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Brazil achieved 93.1% of power generation from renewable sources in 2023

The Brazilian Ministry of Mines and Energy has announced that 93.1% of Brazil's power generation of 2023 came from renewable sources, mainly hydro, solar PV and wind power. Hydropower plants continued to dominate the installed capacity (58% in 2023) but wind and solar installations gained momentum in 2023. According to the EPE, electricity consumption in Brazil increased by 4.2% in 2023, spurred by households (+7.6%) and businesses (+5.6%), while industrial consumption rose by 2%.

With the increased renewable energy production, gas-fired units and thermal power plants have turned into reserve stations to meet peak loads. Consequently, gas imports for gas-fired power generation fell by 28% to 6.5 bcm, their lowest level since 2003 and 62% below their 2021 level (16.9 bcm). 

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