BMI View: We are maintaining our 2013 forecasts for non-hydropower renewables generation in Brazil as our fundamental assumptions remain relevant. We highlight, however, that a significant proportion of new wind capacity installed in 2013 will not be connected to the grid due to a lack of transmission lines. While our short-term forecast remains unchanged, we have moderated our long-term forecast on the back of overly aggressive bidding in auctions for wind energy, as well as improving conditions for thermal energy. We are maintaining our 2013 forecasts for non-hydropower renewables generation in Brazil as our fundamental assumptions remain relevant. In particular, …
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