Brazil expects to have its first offshore wind farms by 2027, according to a new government report, as the South American nation sets out to exploit theoretical potential that could be as high as 700GW.

The forecast, in an Offshore Wind Roadmap published by Brazil’s energy planning authority EPE, comes amid growing interest that has seen global giants such as Iberdrola lay down a marker in the sector there.

Gunnar Herzig, managing director of global offshore wind advocacy body World Forum Offshore Wind, said: “This is excellent news for the global development of offshore wind.