Brazil sees $19bn in sector outlays

Brazil's wind power sector is expected to invest R$43bn ($19bn) in the 2014-17 period, according to a study published by the National Development Bank (BNDES).

The money will be mostly used FOR construction of new wind plants..

Data from the Brazilian Wind Power Association (Abeeólica) says that the country's installed generation capacity should more than double to 11.2GW from the present 4.1GW. Abeeólica's estimate is based on contracts signed in recent auctions.

BNDES estimates total investment in the power sector during 2014-17 will reach R$191bn, up from R$160bn in a previous study for 2013-2016. New hydroelectric will account for the biggest share of the increase with R$54bn (or 28% of total investment in power).

Wind power ranks in second place with 23% of total forecast power outlays. Expansion of Brazil's 100,000km transmission grid will add up to R$37.4bn, BNDES estimates.

The study is based its own loan portfolio and on data from companies' strategic investment plans -  plans not linked to BNDES lending.

Total investment in all sectors of the economy mapped in the study for the 2014-17 period is estimated by BNDES at R$4.1trn. In last year's 2013-16 study, total investment in the country was estimated at R$3.8 trn.