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Brazil Gears Up To Launch Its First Power Deals Exchange In 2024

Brazil will have its first energy exchange for power deals next year, which is expected to raise the volumes of energy-related financial products, the chief executive of the new exchange has told Reuters

The fund L4 Venture Builder, B3 SA Brasil Bolsa Balcao, the operator of Brazil’s stock exchange, and Nodal Exchange, part of European Energy Exchange, are the companies creating the joint venture energy exchange N5X in Brazil.  

The new energy exchange is expected to start operations next year. Its first offering will be a service to register power purchase agreements (PPAs) on the free market between power generators and large industrial consumers. 

N5X will also look to offer electricity derivatives after it obtains regulatory approvals. 

Brazil is a large power market but its energy-related financial products trading is underdeveloped. 

“There is an opportunity for the volume traded to be greater,” Dri Barbosa, chief executive officer of the new exchange, told Reuters. 

Brazil is the largest energy market and the largest electricity market in Latin America and has the seventh largest electricity generation capacity in the world, according to the International Trade Administration at the U.S. Department of Commerce. 

Brazil’s installed capacity was 181.6 GW in 2021, a 3.9% increase from 2020, with remarkable growth from wind power, 21.2%, and solar power, 40.9%. Investment into the Brazilian electricity sector is expected to reach $94 billion by 2029, including utility-scale generation, distributed generation, and transmission projects. 

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At the same time, the free power market in Brazil is growing fast, with over 4,800 consumer units joining the market between January and August—the fastest pace of migrations to the free market in Brazilian history, BNamericas reported last week, citing the Chamber of Electric Energy Commercialization, CCEE. The non-regulated market currently has around 35,540 consumers, mostly industries and companies in the services and trade sectors – and accounts for around 37% of the country’s total energy consumption.   

By Michael Kern for Oilprice.com

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