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Brazil welcomes Chinese firms' participation in its solar power sector

Xinhua, March 9, 2016 Adjust font size:

Brazil's solar power sector, which has gone through a significant growth in recent years, has welcomed Chinese firms' participation in the industry.

There is a "clear trend" of establishment of Asian, especially Chinese, solar power companies in Brazil, said Rodrigo Sauaia, executive president of the Brazilian Solar Power Association (ABSOLAR) in a recent interview with Xinhua.

Chinese company BYD, for example, will build a solar panel factory at Campinas in Sao Paulo state in southeastern Brazil, he said.

According to Sauaia, Chinese companies are either setting up factories in Brazil or having plans to get settled in the country in order to participate in public bidding in the future.

Sauaia believed it is a good time for foreign companies to invest in Brazil amid depreciation of the real against the U.S. dollar, which stands at around 3.80 reals per dollar.

Sauaia highlighted the perspective of market growth for the photovoltaic modules over the coming decades in Brazil.

"The technical potential of solar energy in Brazil is of at least 10,000 gigawatts, bigger than the sum of all other power sources," he said. Endi