New Energy
Brazil Is Set for a Battery Boom. China Is Poised to Benefit
Multiple Chinese companies, including Huawei, are expected to bid in an upcoming Brazilian energy-storage auction.
Brazil is set to hold its first electricity auction for grid-scale batteries in April, and Chinese companies — which have already invested heavily in the country’s power sector — are expected to be leading contenders, potentially bidding against the likes of Tesla Inc. and Petroleo Brasileiro SA.
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It’s another opportunity for Chinese firms to expand their footprint in Brazil. Between 2007 and 2024, power-sector projects accounted for 45% of China’s investments in Latin America’s largest economy, totaling $35 billion, according to the nonprofit Brazil-China Business Council.