Energy policy of Brazil: new challenges and opportunities

Abstract

The article covers the evolution of Brazil’s energy policy and analyzes the current state of the energy sector. Brazil has a high share of renewable energy sources, approaching 50%. However, the fact that much of this energy comes from hydropower and biofuels, as well as the recent discoveries of huge oil reserves off the coast of Brazil, is raising debates about the future development of Brazilian energy industry, taking into account sustainable development goals and global trends towards decarbonization of the energy mix. The author reveals the features of the development of energy in Brazil, considers the role of various energy sources: hydropower, hydrocarbon resources, renewable energy sources, as well as nuclear energy, which was accompanied by environmental and socioeconomic problems. It is concluded that studying Brazil’s approaches to energy efficiency, to the creation of a regulatory framework, as well as its experience in implementing an energy strategy combining the use of hydrocarbon resources with the transition to the widespread use of renewable resources would be useful to Russian companies in an environment of increasing global competition.