However, the industry said that despite this healthy pipeline the country is lacking long-term targets.
Ramon Fiestas, director of GWEC's Latin American committee, said a target of 2GW a year to 2020 would be better for investors. The market in Brazil is mainly driven by auctions, which are related to the electricity needs of the system at the time, rather than long-term planning.
"It's becoming a sound market in the short term, but we want to see a long-term signal," Fiestas said.
The industry associations published an analysis of the Brazilian market at the conference. This highlights other challenges faced by the industry, such as high taxes and inefficient procedures for environmental impact assessments.