The share of non-hydro renewable power sector will be around 25% of the total power capacity in Brazil by 2025, according to research and consulting firm GlobalData.
Non-hydro renewable energy installed capacity will be increased from 17.1GW in 2014 to an estimated 57.8GW by 2025.
The firm’s report revealed that the Brazilian Government has undertaken several initiatives to expand the generation capacity in the country.
Brazil is investing in the wind, biomass and solar energy segments to meet the increasing power demand in the country.
Claimed to be the largest source of electricity in the country, hydropower’s share is expected to decrease to 54.7% by 2025 from 66.9% in 2014.
In Brazil, the annual consumption of power increased from 331.6TWh to 505.5TWh in 2014 at a compound annual growth rate (CAGR)of 3.1%, and is expected to reach 538.4 TWh by 2019.
GlobalData senior analyst Chiradeep Chatterjee said that the reasons for the predicted surge in demand involve increasing trends in both gross domestic product (GDP) and population.
He further added: "Brazil’s economy is one of the fastest growing in the world, with GDP growing from $263.8bn in 2000 to $401.5bn in 2014 and driving increased consumption.
"Brazil generates power from a diverse range of sources, with hydropower accounting for the majority of the country’s requirements.
"Although a large amount of hydropower capacity has been developed in Brazil, with a cumulative installed capacity of 89GW in 2014, additional capacity remains to be developed."