Sustainable practices cut prices, fuel market

The synergistic strengths of China and Brazil in renewable energy promise extensive opportunities for enhanced collaboration, poised to significantly propel the worldwide shift toward sustainable energy sources, said experts.

Nestled within a tropical climate rich in sunlight, Brazil emerges as a leading force in Latin America's burgeoning photovoltaic sector. Bolstered by governmental backing, the nation emerged as the world's third-largest market for solar additions in 2023, after China and the US, according to research provider BloombergNEF.

Meanwhile, China flaunts a formidable industrial infrastructure, wielding technical prowess and cost efficiencies in the production of photovoltaic equipment. A growing number of Chinese solar firms are also exploring varied avenues for international cooperation, be it through offshore manufacturing facilities or technology licensing agreements. This may echo Brazil's drive to nurture domestic solar equipment manufacturing, fostering a mutually beneficial ecosystem, experts said.