The Brazilian renewable energy sector has high expectations for growth in the coming years and by 2020 it will be the second largest energy source reaching 4 percent of the country’s energy matrix by 2024. Following this, GE’s Power Conversion business has just completed domestic content compliance for its solar and wind inverters, following the rules set out by Brazil’s state-owned development bank, BNDES, regarding how much of the equipment is manufactured in Brazil. This in turn means that Brazilian clients can obtain BNDES credit at more attractive interest rates.
“We're very proud to announce that two new GE technologies in renewable energy comply with domestic manufacturing requirements” said Sérgio Zuquim, commercial director of GE’s Power Conversion business for Latin America. “This shows the company's commitment to providing high-tech solutions with excellent finance conditions for Brazilian clients.”
Following the GE Store concept—offering a complete solution for clients through different businesses owned by the company—compliance with BNDES requirements by wind frequency inverters, which are installed inside wind turbines, met a specific demand from GE's wind division, which took an active part in the entire process.
Zuquim added that, based on compliance for domestically produced content for this specific technology for GE Wind, GE will be able to do the same for other equipment, according to market demand, as the company is contributing to the consolidation of an emerging supply chain.
Solar frequency inverters are universal devices that can be sold to any clients who are building or planning to build solar plants, not only in Brazil but also in other parts of the world, serving the market's needs for at least 10 years. GE has been pioneering 1,500 volt LV5 solar inverters that bring high cost-effectiveness to utility solar farms. Since the launch of these inverters in 2014, the company has delivered more than 1 GW and accumulated a further 4 GW in backlog globally. The acquisition of BNDES accreditation opens the way for the company to continue delivering value to Brazilian customers and local solar farms.
GE has already complied similarly in its various other divisions, such as Aviation, Transportation and Healthcare.
For additional information:
